STAT Plus: Pfizer to invest up to $500M in public companies with drugs in the clinic
Pfizer, the world’s largest drug company, is going to try its hand at picking biotech stocks.
The New York pharma giant has set aside up to $500 million that it will invest in publicly traded companies with drugs in the clinic. Pfizer would take non-controlling stakes, and there’d be no strings attached. The program, called the Pfizer Breakthrough Growth Initiative, would give companies access to the company’s scientists, clinicians, and manufacturing experts, if they want it.
