A New Program to Support Continued Biotechnology Innovation
At Pfizer, our Purpose – breakthroughs that change patients’ lives – propels us to find innovative solutions for patients with high unmet medical needs in various therapeutic areas. We share this goal with many innovative companies within the biotech community and we have a long history of collaboration with them and many others across the healthcare innovation ecosystem.
Now, more than ever, our patients need us, working together, to turn great scientific ideas into innovative new medicines. The Pfizer Breakthrough Growth Initiative was established to ensure continuity of the most promising clinical development programs by investing up to $500 million in biotechnology companies and providing them with access to Pfizer’s scientific, clinical and manufacturing expertise.
What is the Pfizer Breakthrough Growth Initiative?
The Pfizer Breakthrough Growth Initiative will focus on making non-controlling equity investments in clinical-stage public companies, with a primary focus on companies with small- to medium-sized market capitalizations across a range of therapeutic categories that are consistent with Pfizer’s core areas of focus: Internal Medicine, Inflammation & Immunology, Oncology, Rare Disease, Vaccines and Hospital. Partner companies may also have the opportunity to access Pfizer’s significant expertise and resources in research, clinical development and manufacturing.
Is the Pfizer Breakthrough Growth initiative related to COVID-19 pandemic?
In addition to our core therapeutic areas of focus, companies developing treatments or vaccines for COVID-19 will be considered as potential partners.
While the launch of this new initiative is not specifically tied to the pandemic, the resulting uncertainty in the future financial markets may increase the need for many companies in the biotech community to seek alternative funding sources in order to help execute their long-term strategic plans.
Is the Pfizer Breakthrough Growth Initiative limited to U.S. biotechnology companies?
No. As with all of our partnering activities, we seek to collaborate with companies that are working on breakthrough science, no matter where the company is located.
How can my company get more information about the initiative?
Biotechnology companies interested in learning more may contact pbgi@pfizer.com.