Oliver Barnes, Hannah Kuchler and Patrick Temple-West
Nov 5, 2025 – 3.07pm
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In 2023, US biotech Metsera bought a promising weight-loss start-up spun out of an Imperial College London laboratory, and the life’s work of the professor behind it, for up to $US114 million ($176 million).
Two years later, those treatments have thrust Metsera to the centre of a fierce takeover battle, with Ozempic maker Novo Nordisk and Pfizer willing to pay up to $US10 billion ($15 billion) for the company. Both once again sweetened offers for Metsera on Tuesday (Wednesday AEDT), with the coveted biotech continuing to view Novo’s bid as “superior”.
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Financial Times