Pfizer innovation initiative invests $120M in 4 early-stage drugmakers
Pfizer’s innovation initiative has invested a total of $120 million into four clinical-stage biotech companies, the drugmaker announced Jan. 12.
The Pfizer Breakthrough Growth Initiative, launched in June, makes investments in biotech companies focusing on internal medicine, inflammation and immunology, oncology, rare diseases and vaccines. Pfizer plans to invest up to $500 million in biotechnology companies through the initiative.
Below are the first four companies Pfizer invested in:
- Bedford, Mass.-based Homology Medicines ($60 million)
- Cambridge, Mass.-based Trillium Therapeutics ($25 million)
- Cambridge, Mass.-based Vedanta Biosciences ($25 million)
- Vancouver-based ESSA Pharma ($10 million)
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