Pfizer is planning to invest $600 million in biotechnology and other emerging growth companies through its venture investment vehicle, Pfizer Ventures.
In addition to increased funding, Pfizer will extend its leadership as a venture capital investor with an expanded team that leverages expertise across venture capital investing, business development, drug discovery and clinical development.
“By expanding Pfizer’s venture capital efforts under Pfizer Ventures, we hope to extend both the breadth and depth of Pfizer’s support for the development of cutting-edge science from concept to products,” said Barbara Dalton, Vice President, Pfizer Worldwide Business Development and Senior Managing Partner of Pfizer Ventures.
“Building on our existing investments and proven track-record, we will look to identify and invest in emerging companies that are advancing compounds and technologies with the hope of delivering life-changing therapies to patients in need.”
Pfizer Ventures will seek to invest approximately 25% of its available capital ($150 million) in promising early-stage neuroscience companies.