Pfizer have established the Pfizer Breakthrough Growth Initiative, through which drugmaker will invest up to $500 million in biotechnology companies to help provide funding and access to Pfizer’s scientific resources. According to Pfizer, this is meant to help ensure continuity of the biotechnology companies’ promising clinical development programs.
The Pfizer Breakthrough Growth Initiative will focus on making non-controlling equity investments in clinical-stage public companies, with a primary focus on companies with small- to medium-sized market capitalizations across a range of therapeutic categories. These biotechs must be consistent with Pfizer’s core areas of focus of internal medicine, inflammation and immunology, oncology, rare disease, vaccines and hospital.
Partner companies will have the opportunity to access Pfizer’s expertise and resources in research, clinical development and manufacturing.
Read the Pfizer release