Pfizer Inc. is investing $600 million in biotechnology and other emerging growth companies through Pfizer Ventures, the U.S. drug giant's venture investment vehicle.
Pfizer Ventures will seek to invest about 25% of its available capital, equivalent to about $150 million, in early stage neuroscience companies — or those focused on the study of the nervous system.
The vehicle will continue to invest in other fields such as oncology, inflammation and immunology, rare disease, internal medicine and vaccines.
Pfizer Ventures actively manages an existing investment portfolio of more than 40 companies. Combined with about $500 million invested to date, the additional funding brings Pfizer Ventures' total assets under management to more than $1 billion.
