Pfizer is planning to invest $600 million in biotechnology and other emerging growth companies through Pfizer Ventures, the company’s venture investment vehicle.
“By changing the way we invest in neuroscience, we hope to support an energized community of biotech entrepreneurs who are progressing the understanding of the molecular mechanisms of neurologic diseases and help advance potential treatments for people with neurological conditions,” said Denis Patrick, vice president of Pfizer Worldwide Research and Development and managing partner of Pfizer Ventures.
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.
Six of Pfizer Ventures’ current portfolio company investments focus on breakthrough neuroscience, including Aquinnah, Autifony, Cortexyme, MindImmune, MISSION, and Neuronetics. In addition, Pfizer was instrumental in the creation, funding and launch of the Dementia Discovery Fund (DDF) in 2015.
Pfizer is also expanding the Pfizer Ventures team. Joining Pfizer’s current venture investing team of Elaine Jones and Bill Burkoth, are Patrick and Laszlo Kiss, Margi McLoughlin, Chris O’Donnell and Nikola Trbovic.
The new organization consolidates R&D Innovate, Pfizer’s R&D equity investment vehicle, with Pfizer Venture Investments.
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