Pfizer announces early stage investments
Pfizer Inc. (NYSE:PFE) said it will invest a total of $46 million in four early stage start-ups, expanding its R&D investment strategy to include companies in discovery. Its investments include gene therapy play 4D Molecular Therapeutics LLC (Emeryville, Calif.), with which it also forged a licensing deal, and BioAtla LLC (San Diego), with which it announced a partnership last month.
4D granted Pfizer an option that would give the pharma exclusive rights to adeno-associated viral (AAV) vectors to treat cardiac disease. 4D received undisclosed upfront and equity payments from Pfizer, and is eligible for milestones, tiered royalties and an additional equity investment. 4D is developing AAV vectors to treat chronic pain, hemophilia and wet age-related macular degeneration using its Directed Vector Evolution technology (see BioCentury, July 14, 2014). ...