Pfizer: invests 120 million dollars in four biotech firms

(CercleFinance.com) - US drug giant Pfizer has said that it invested 120 million dollars in four clinical-stage biotech firms over the second half of 2020.


The pharmaceutical company's investments include 60 million dollars in Massachusetts-based Homology, a clinical-stage genetic medicines company focused on treatments for rare genetic diseases, it said in a statement.

The plan also includes a 25 million dollar investment in Vedanta Biosciences, a privately held clinical-stage company that specializes in therapies for immune-mediated diseases based on human microbiome-derived bacteria.

Pfizer said it also invested 25 million dollars in Trillium Therapeutics, an immuno-oncology business focused on developing innovative therapies for the treatment of cancer.

Finally, the drugmaker has invested 10 million dollars in Vancouver-based ESSA Pharma, another clinical-stage pharmaceutical company focused on developing novel and proprietary therapies for the treatment of patients with prostate cancer.

The investments are part of the Pfizer Breakthrough Growth Initiative (PBGI) through which the company is investing up to 500 million dollars in biotech companies.

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