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The first four investments of the new program will support clinical-stage biotechnology companies while new investments will include companies focused on oncology, rare disease, and inflammation and immunology.
Pfizer announced on Jan. 12, 2021 that, during the second half of 2020, it invested a total of $120 million in four clinical-stage biotech companies as part of the Pfizer Breakthrough Growth Initiative (PBGI). Through this initiative, Pfizer is investing up to $500 million in biotechnology companies in an effort to provide funding and access to the company’s scientific expertise. The aim is to help ensure the continuity of promising clinical development programs of potential future strategic interest to Pfizer.
Initial PBGI investments include:
“Pfizer has a long history of collaborating across the healthcare ecosystem with the shared goal of turning great science into innovative new medicines,” said Debbie Baron, senior vice-president of Business Development, Pfizer, in a company press release. “Our investments in Homology, Vedanta, Trillium, and ESSA reflect our commitment to find new and creative ways to leverage Pfizer’s resources to deliver breakthroughs to patients.”