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    Home > Medical News > Medical World News > Pfizer's $500 million is in place.

    Pfizer's $500 million is in place.

    • Last Update: 2021-03-05
    • Source: Internet
    • Author: User
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    If the biotech company you run focuses on areas such as internal medicine, inflammation, immunization, cancer, rare diseases, and vaccines, and thinks its technology promises to revolutionize the industry, here's the good news: Pfizer, a well-known drug company with $500m in hand, is looking for such a future star to invest in.Today, Pfizer announced the launch of the Pfizer Breakthrough Growth Initiative, which will raise up to $500 million to invest in biotech companies to help them complete important clinical development projects.As we all know, the development of new drugs is a long process, time and money costs are quite expensive. Even with cutting-edge technology, it is inevitable that research and development funds will not meet the time. At this point, if you can get tens of millions of dollars of investment, there is no doubt that the snow to send carbon, to help these small and medium-sized biotechnology companies to complete the sprint.In fact, Pfizer has been very active in investing in biotech companies recently, according to the drug company's content team. Just last month, it took part in a C-round of financing for Amplyx in San Diego, raising the total to $93 million. Late last year, Pfizer also led Triple Therapeutics' $59 million round A financing.As Pfizer has invested in in the past, central nervous system disease has been a concern. However, this area is not mentioned in this initiative. The press release notes that it is focused on areas consistent with Pfizer's main research and development direction. Pfizer also noted in a press release that the companies it invests in have the opportunity to work with Pfizer experts in research and clinical development.Some analysts also point out that in the past Pfizer's investments were either concentrated in earlier biotech companies or directly in mid- to late-stage licensing agreements. The $500 million investment is expected to fill the gap in the middle and help these biotech companies mature and close the loop.Pfizer has yet to announce when it will allocate the $500 million investment, and it remains unclear. (Creating a foreign exchange)
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