Pfizer invests $120M in biotech innovation

By The Science Advisory Board staff writers

January 12, 2021 -- Pfizer has invested $120 million in four clinical-stage biotech companies as part of its Pfizer Breakthrough Growth Initiative (PBGI).

Initial investments include:

  • $10 million in ESSA Pharma, a company focused on developing novel and proprietary therapies for the treatment of patients with prostate cancer
  • $25 million in Trillium Therapeutics, a company focused on developing innovative therapies for the treatment of cancer
  • $25 million in Vedanta Biosciences, a company developing a new category of therapies for immune-mediated diseases based on rationally defined consortia of human microbiome-derived bacteria
  • $60 million in Homology Medicines, a company focused on treatment for rare genetic diseases

Through the initiative, the company plans on investing up to $500 million in biotechnology companies, to provide funding and access to Pfizer's scientific expertise and to ensure continuity of promising clinical development programs of potential future strategic value to the company.

PBGI was established in June 2020 and is focused on making noncontrolling equity investments in primarily public companies with small- to medium-size market capitalizations and mature private companies that are developing clinical-stage assets aligned with Pfizer's core areas of focus.

Copyright © 2021

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