New investments include companies focused on Oncology, Rare Disease, and Inflammation & Immunology
Pfizer Inc has announced that, during the second half of 2020, it invested a total of $120 million in four clinical-stage biotech companies as part of thePfizer Breakthrough Growth Initiative(PBGI).
Through PBGI, Pfizer is investing up to $500 million in biotechnology companies, providing funding and access to Pfizers scientific expertise to help ensure the continuity of promising clinical development programmes of potential future strategic interest to Pfizer.
Established in June 2020, the Pfizer Breakthrough Growth Initiative focuses on non-controlling equity investments primarily in public companies with small- to medium-sized market capitalisations and mature private companies that are developing clinical-stage assets aligned with Pfizers core areas of focus: Internal Medicine, Inflammation & Immunology, Oncology, Rare Disease, Vaccines, and Hospital.
Pfizers initial PBGI investments include:
Debbie Baron, Senior Vice President, Business Development, Pfizer said, Our investments in Homology, Vedanta, Trillium, and ESSA reflect our commitment to find new and creative ways to leverage Pfizers resources to deliver breakthroughs to patients.
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Pfizer to invest $500 M in biotechnology companies - BSA bureau
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