Canaan adds $100M+ to boost bio­phar­ma in­vest­ing, brings on for­mer Pfiz­er ex­ec

Canaan, a decades-old tech and life sci­ences ven­ture cap­i­tal firm, plans to in­vest more heav­i­ly in bio­phar­ma go­ing for­ward.

The Men­lo Park, CA-based firm added more than $100 mil­lion to its 13th fund and brought for­mer Pfiz­er ex­ec­u­tive Uwe Schoen­beck on board as a ven­ture part­ner, it said Wednes­day morn­ing. Schoen­beck has al­ready helped Canaan scout in­vest­ments and led the firm to con­tribute to the $132 mil­lion Se­ries B for can­cer biotech Al­terome ear­li­er this month.

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