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New program provides funding and expertise to biotechnology companies, helping to ensure continuity of promising clinical development programs

Through the newly-created Pfizer Breakthrough Growth Initiative (PBGI), Pfizer is investing in biotechnology companies, providing funding and access to Pfizer’s scientific expertise to help ensure continuity of promising clinical development programs.

Pfizer has a long history of collaborating across the health care ecosystem with the shared goal of turning great science into innovative new medicines.”​​​​​​​

Debbie Baron

Senior Vice President, Business Development, Pfizer

Pfizer’s initial PBGI investments included:

  • ​​​​​​​$10 million in Vancouver, Canada-based ESSA Pharma Inc., a clinical-stage pharmaceutical company focused on developing novel and proprietary therapies for the treatment of patients with prostate cancer.
  • $25 million in Cambridge, Mass.-based Trillium Therapeutics Inc., a clinical-stage immuno-oncology company focused on developing innovative therapies for the treatment of cancer. Jeff Settleman, Senior Vice President and Head of Pfizer’s Oncology Research & Development Group, has been named to Trillium’s Scientific Advisory Board.
  • $25 million in Cambridge, Mass.-based Vedanta Biosciences Inc., a privately held clinical-stage company focused on developing a new category of therapies for immune-mediated diseases based on rationally defined consortia of human microbiome-derived bacteria. Michael Vincent, Senior Vice President and Chief Scientific Officer, Pfizer Inflammation & Immunology, has joined Vedanta’s Scientific Advisory Board.
  • $60 million in Bedford, Mass.-based Homology Medicines Inc., a clinical-stage genetic medicines company focused on treatments for rare genetic diseases with significant unmet medical needs. Seng Cheng, Senior Vice President and Chief Scientific Officer, Pfizer Rare Disease, has joined Homology’s scientific advisory board for matters related to Homology’s gene therapy and gene editing programs for phenylketonuria (PKU).

“Pfizer has a long history of collaborating across the health care ecosystem with the shared goal of turning great science into innovative new medicines,” said Debbie Baron, Senior Vice President, Business Development, Pfizer. “Our investments in these companies reflect our commitment to find new and creative ways to leverage Pfizer’s resources to deliver breakthroughs to patients.”

Established in June, the PBGI focuses on non-controlling equity investments in public companies with small- to medium-sized market capitalizations and mature private companies that are developing clinical-stage assets aligned with Pfizer’s core therapeutic areas of focus: Internal Medicine, Inflammation & Immunology, Oncology, Rare Disease, Vaccines and Hospital/Anti-Infectives. Partner companies may also have the opportunity to access Pfizer’s significant expertise and resources in research, clinical development and manufacturing.

$120 ​​​​​​​million

$120 million invested in biotechnology innovation through PBGI in the second half of 2020

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