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:
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.
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