Pfizer’s $500M public biotech fund to complement late-stage BD activity

Pfizer is bolstering future business development opportunities with a $500 million fund designed to take small to mid-cap public biotechs with early-stage clinical assets to their next inflection points.

Pfizer Inc. (NYSE:PFE) Group President and CBO John Young told BioCentury the pharma’s partnering or M&A strategy often has a bias toward Phase II or Phase III assets. Its newly launched Pfizer Breakthrough Growth Initiative would give Pfizer an early look at companies that could be entering that BD sweet spot within a few years’ time...