BioCentury
ARTICLE | Finance

Springing into Cerevel

Why Bain and Pfizer reunited to launch neuroscience spinout Cerevel

October 26, 2018 9:43 PM UTC

Bain Capital is following the blueprint for Pfizer Inc. (NYSE:PFE) spinout SpringWorks Therapeutics LLC and applying it on a larger scale to Cerevel Therapeutics LLC, which will develop Pfizer’s discontinued neuroscience pipeline with $350 million in initial capital.

Bain’s Adam Koppel said the firm had ongoing interest in neuroscience investments when Pfizer retreated from neuroscience R&D in January. Pfizer subsequently reached out to Bain about spinning out its programs in a fashion similar to SpringWorks’ creation, he said...