Michael Diem, senior managing partner at Pfizer Ventures, is one of the 100 leading corporate venturing professionals in our 2026 Powerlist.
As senior managing partner of Pfizer Ventures, Michael Diem has overseen the pharmaceutical group’s strategic venture investments since 2024, having joined the year prior as long‑time leader Barbara Dalton prepared for retirement.
Diem now steers the fund across Pfizer’s core therapeutic priorities — oncology, immunology, cardiovascular disease, vaccines and next‑generation modalities — and has described 2025 as a period of “strong recovery and renewed optimism” for the biotechnology sector. The year delivered improving valuations, renewed strategic activity and a busy investment cadence: nine new portfolio additions and 10 follow‑on commitments.
Pfizer itself strengthened its position in metabolic disease with the acquisition of Metsera and an in‑licensing agreement for 3SBio’s platform, while allocating $10.4bn to internal R&D. The company also emphasised growing productivity from China, calling it a market of rising strategic importance. To support this, Pfizer Ventures launched a China‑based investment vehicle in partnership with an undisclosed local VC and participated in OTR Therapeutics’ $100m series A in late 2025.
Beyond China, the fund deployed capital into a series of substantial rounds, including Triana’s $120m series B, Artios’ $115m series D, Mediar Therapeutics’ $75m series B, Normunity’s $75m series B and Cartography Biosciences’ $67m series B. This year has begun strongly as well, with Diem joining the board of Vibrant Therapeutics following its $61m raise.
Pfizer Ventures’ portfolio momentum has been equally visible on the exit front. More than 16 programmes advanced through clinical development in 2025, while three major transactions closed, including AbbVie’s $2.1bn acquisition of Capstan Therapeutics and Ipsen’s purchase of ImCheck Therapeutics for more than $400m. The year also saw Agomab Therapeutics float in a $200m initial public offering.
Diem works closely with Denis Patrick, managing partner since 2018 and head of partnering innovation, who leads Pfizer’s $600m commitment to early‑stage biotech. However, the team lost a long‑standing figure when Michael Baran departed in January to become head of private investments at Affinity Asset Advisors after 17 years at Pfizer.
Even so, Diem’s two decades of operating and investment experience — spanning Century Therapeutics, Amicus Therapeutics, AstraZeneca and GlaxoSmithKline — have shaped Pfizer Ventures’ evolution. Under his leadership, the fund has shifted from a therapeutics‑focused CVC platform to a more integrated corporate development sensor: earlier‑stage, modality‑driven, increasingly China‑aware and more explicitly aligned with pipeline impact.
The GCV Powerlist represents the 100 individuals spearheading the future of the corporate venturing industry.
These individuals excel in terms of their venturing approach and structure, number and quality of portfolio companies and in their contributions to the corporate venturing profession.
Here’s a snapshot of their recent deals:
