Pfizer Breakthrough Growth Initiative is set to allocate as much as $500m to publicly listed clinical-stage life science technology developers.
US-based pharmaceutical firm Pfizer yesterday pledged to invest up to $500m in biotech companies while also providing expertise, through a scheme dubbed Pfizer Breakthrough Growth Initiative.
Pfizer intends to acquire minority stakes in publicly listed companies with small to medium-sized market caps that are developing internal medicine, inflammation, immunology cancer and rare disease drugs, vaccines and hospital-related products, that are at the clinical stage.
The company is already an active investor in the healthcare venture capital space, both off its…
