Pfizer announced it plans to invest $600 million in biotechnology and other emerging growth companies through Pfizer Ventures, the company’s venture investment vehicle.
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.
Pfizer Ventures will seek to invest approximately 25% of its available capital ($150 million) in promising early-stage neuroscience companies. By leveraging an equity investment model, Pfizer can support a broad array of early neuroscience research and product development opportunities, which are critical in this nascent area of science.
Initial areas of interest for Pfizer Ventures include neuro-degeneration, neuro-inflammation and neuro-metabolic disorders, and other areas where rapidly advancing science could lead to breakthroughs for patients.
Beyond neuroscience, Pfizer Ventures will continue to invest across a broad range of therapeutic areas of interest to Pfizer such as oncology, inflammation and immunology, rare disease, internal medicine and vaccines. Companies developing technologies that have the potential to transform drug discovery, development and manufacturing will also be considered.
Pfizer Ventures actively manages an existing investment portfolio of more than 40 companies. Combined with approximately $500 million invested to date, the additional funding brings Pfizer Ventures’ total assets under management to more than $1 billion.