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.

FDA issues EUA for Moderna COVID-19 vaccine
Just one day after a favorable committee recommendation, the U.S. Food and Drug Administration (FDA) has issued an emergency use authorization (EUA) for...

Vivet, Pfizer to begin Wilson's disease gene therapy trial
The U.S. Food and Drug Administration (FDA) has cleared Vivet Therapeutics' investigational new drug application for the Gateway study, a phase I/II study...

Ideaya, Pfizer expand clinical collaboration
Ideaya Biosciences has expanded its clinical trial collaboration and supply agreement with Pfizer for the combination study of IDE196, a protein kinase...

Javelin, Pfizer to develop organ-on-a-chip platform
Javelin Biotech has entered a three-year collaboration with Pfizer to design and build a platform to evaluate absorption, distribution, metabolism, and...

Pfizer to manufacture Vivet's gene therapy
Vivet Therapeutics and Pfizer have entered into a manufacturing agreement where Pfizer will provide clinical supply for a phase I/II clinical trial evaluating...