Key Takeaways
- • Blackstone Life Sciences has agreed to provide Pfizer with up to $1.5bn through 2028 to support development of its experimental monthly GLP-1 obesity treatment berobenatide, with payments tied to regulatory and commercial milestones.
- • Blackstone will not acquire ownership or development rights in berobenatide; Pfizer retains operational control and plans ten ongoing or forthcoming Phase 3 trials.
- • The Pfizer commitment expands a relationship that included a $550m development financing arrangement in 2023, and will be funded through Blackstone Life Sciences and the perpetual private equity vehicle BXPE.
- • British AI chip developer Fractile raised $720m in a Series C led by Thrive Capital, Founders Fund, Lightspeed Venture Partners and Redpoint, valuing the company at $7bn according to Reuters.
- • HIG Capital agreed to acquire a majority stake in go asia, Germany's largest Asian food retail chain, while Quad-C, Waud Capital, and Ironleaf Capital completed separate exits and a first investment.
Summary
Blackstone Life Sciences has agreed to provide Pfizer with up to $1.5bn through 2028 to support development of berobenatide, Pfizer's experimental obesity treatment, according to AltAssets. The capital is conditional on regulatory and commercial milestones and will be deployed through funds managed by Blackstone Life Sciences and BXPE, Blackstone's perpetual private equity strategy. Blackstone will not acquire ownership or development rights in the drug, and Pfizer retains operational control. Berobenatide is an investigational monthly GLP-1 treatment, and Pfizer plans ten ongoing or forthcoming Phase 3 trials. The agreement builds on a $550m development financing arrangement between the two firms in 2023.
In venture capital, British AI chip developer Fractile raised $720m in a Series C financing led by Thrive Capital, Founders Fund, Lightspeed Venture Partners and Redpoint, valuing the business at $7bn according to Reuters. CapitalG, BlackRock, DST Global, Balderton Capital, the UK government's Sovereign AI Venture Fund and the British Business Bank also participated. Founded in 2022, Fractile develops AI inference processors that integrate memory and compute to improve performance and energy efficiency, with first commercial chips planned for 2027. The Series C follows a May financing that valued the company at about $1.1bn, according to the Financial Times.
HIG Capital has agreed to acquire a majority stake in go asia, Germany's largest Asian food retail chain, partnering with the founding family to accelerate expansion across Germany and other European markets. The Berlin-headquartered retailer operates more than 70 stores in over 30 German cities, employs more than 1,600 people and sells over 10,000 products. The Wengui Ye-led family will retain a significant stake, with Ye and management continuing to run the business. HIG, which manages $76bn in capital, plans to expand the store network, including entry into new European markets.
Elsewhere in the deal flow, Quad-C completed the sale of specialty chemicals manufacturer Boulder Scientific Company to Iron Path Capital. Boulder Scientific produces organometallic compounds for plastics, microelectronics, aerospace and defence customers. Waud Capital Partners completed the sale of PromptCare's infusion and specialty pharmacy business to AOM Infusion after a five-year hold in which revenue grew fivefold. Healthcare-focused Ironleaf Capital, founded in 2025 by T.J. Rose, completed its inaugural investment in Healthcare Control Systems, whose ORControl software is used by Ascension, CommonSpirit, HCA and the US Veterans Health Administration.
In venture capital, British AI chip developer Fractile raised $720m in a Series C financing led by Thrive Capital, Founders Fund, Lightspeed Venture Partners and Redpoint, valuing the business at $7bn according to Reuters. CapitalG, BlackRock, DST Global, Balderton Capital, the UK government's Sovereign AI Venture Fund and the British Business Bank also participated. Founded in 2022, Fractile develops AI inference processors that integrate memory and compute to improve performance and energy efficiency, with first commercial chips planned for 2027. The Series C follows a May financing that valued the company at about $1.1bn, according to the Financial Times.
HIG Capital has agreed to acquire a majority stake in go asia, Germany's largest Asian food retail chain, partnering with the founding family to accelerate expansion across Germany and other European markets. The Berlin-headquartered retailer operates more than 70 stores in over 30 German cities, employs more than 1,600 people and sells over 10,000 products. The Wengui Ye-led family will retain a significant stake, with Ye and management continuing to run the business. HIG, which manages $76bn in capital, plans to expand the store network, including entry into new European markets.
Elsewhere in the deal flow, Quad-C completed the sale of specialty chemicals manufacturer Boulder Scientific Company to Iron Path Capital. Boulder Scientific produces organometallic compounds for plastics, microelectronics, aerospace and defence customers. Waud Capital Partners completed the sale of PromptCare's infusion and specialty pharmacy business to AOM Infusion after a five-year hold in which revenue grew fivefold. Healthcare-focused Ironleaf Capital, founded in 2025 by T.J. Rose, completed its inaugural investment in Healthcare Control Systems, whose ORControl software is used by Ascension, CommonSpirit, HCA and the US Veterans Health Administration.
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