BioCentury
ARTICLE | Finance

Pharma ventures earlier

Why AbbVie, Pfizer and Novartis are expanding their Corp VC operations

February 7, 2019 11:41 PM UTC

Facing the squeeze from inside and out, at least three corporate venture arms are revamping operations to increase their foothold in earlier and riskier investment opportunities. From one side, the move reflects the growing reliance by pharmas on their corporate VCs to stay on top of new science. From the other, it’s a response to being left in the cold by the large private funds dominating late-stage investments.

In the last 12-24 months, Novartis Venture Fund (NVF), Pfizer Ventures and AbbVie Ventures have expanded their activities through increased funding or investments, and reshaped or grown their teams. ...

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