Investors including Eli Lilly, Pfizer, Johnson & Johnson have backed the fourth fund to be raised by early-stage biotechnology investor Accelerator Corp.
US-based biotechnology investment firm Accelerator Corporation reached the $51.1m first close of its fourth fund yesterday, which included contributions from several pharmaceutical companies.
New investors included pharmaceutical company Eli Lilly pharmaceutical corporate venturing units Pfizer Venture Investments and Johnson & Johnson Development Corporation, venture capital firm Harris & Harris Group and investment fund Partnership Fund for New York City.
Alexandria Venture Investments, Arch Venture Partners, and WRF Capital all took part as returning investors.
Founded in Seattle in 2003, Accelerator…