The pharmaceutical company, which has overseen a venture capital unit since 2004, will form the fund as it cuts internal neuroscience research.
US-based pharmaceutical firm Pfizer intends to set up a corporate venturing fund geared toward the neuroscience sector, Fierce Biotech reported on Sunday, citing a company statement.
Pfizer launched its core strategic investment subsidiary, Pfizer Venture Investments, in 2004 and provides about $50m per year for deals from the unit, which can commit up to $10m per company per round.
The as-yet unnamed fund is being set up as its parent company seeks to cut its internal spending on neuroscience research,…
