Pfizer adds $600M to its venture group, with a special focus on the neurosciences field it just retreated from
Pfizer $PFE may have made an abrupt exit out of the neurosciences R&D arena, but it’s still interested in backing the biotechs willing to navigate the ultra-high risk field.
The pharma giant today more than doubled its commitment to its venture arm, adding $600 million in firepower and devoting $150 million of that for new rounds backing upstarts in the neurosciences world.
Pfizer Ventures has already backed a small group of players in the field: Aquinnah, Autifony, Cortexyme, MindImmune, MISSION, and Neuronetics. The company also helped in the creation, funding and launch of the Dementia Discovery Fund in 2015.
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