Pharmaceutical

First four investments of new program created to support clinical-stage biotechnology companies New investments include companies focused on Oncology, Rare Disease, and Inflammation & Immunology Pfizer Inc. today announced that, during the second half of 2020, it invested a total of $120 million in four clinical-stage biotech companies as part of the Pfizer Breakthrough Growth Initiative . Through PBGI, Pfizer is ...

First four investments of new program created to support clinical-stage biotechnology companies

New investments include companies focused on Oncology, Rare Disease, and Inflammation & Immunology

Pfizer Inc. (NYSE: PFE) today announced that, during the second half of 2020, it invested a total of $120 million in four clinical-stage biotech companies as part of the Pfizer Breakthrough Growth Initiative (PBGI). Through PBGI, Pfizer is investing up to $500 million in biotechnology companies, providing funding and access to Pfizer's scientific expertise to help ensure the continuity of promising clinical development programs of potential future strategic interest to Pfizer.

Pfizer's initial PBGI investments include:

  • $10 million in Vancouver, BC-based ESSA Pharma (Nasdaq: EPIX), a clinical-stage pharmaceutical company focused on developing novel and proprietary therapies for the treatment of patients with prostate cancer.
  • $25 million in Cambridge, Mass.-based Trillium Therapeutics (Nasdaq: TRIL), a clinical-stage immuno-oncology company focused on developing innovative therapies for the treatment of cancer. In addition, Jeff Settleman, Senior Vice President and Chief Scientific Officer of Pfizer's Oncology Research & Development Group, was named to Trillium's Scientific Advisory Board.
  • $25 million in Cambridge, Mass.-based Vedanta Biosciences, a privately held clinical-stage company focused on developing a new category of therapies for immune-mediated diseases based on rationally defined consortia of human microbiome-derived bacteria. In addition, Michael Vincent, Senior Vice President and Chief Scientific Officer of Pfizer's Inflammation & Immunology Research Unit, will join Vedanta's Scientific Advisory Board.
  • $60 million in Bedford, Mass.-based Homology Medicines (Nasdaq: FIXX), a clinical-stage genetic medicines company focused on treatments for rare genetic diseases with significant unmet medical needs. In addition, Seng Cheng, Senior Vice President and Chief Scientific Officer of Pfizer's Rare Disease Research Unit, has joined Homology's Scientific Advisory Board for matters related to Homology's gene therapy and gene editing programs for phenylketonuria (PKU).

"Pfizer has a long history of collaborating across the healthcare ecosystem with the shared goal of turning great science into innovative new medicines," said Debbie Baron, Senior Vice President of Business Development, Pfizer. "Our investments in Homology, Vedanta, Trillium, and ESSA reflect our commitment to find new and creative ways to leverage Pfizer's resources to deliver breakthroughs to patients."

Established in June 2020, the Pfizer Breakthrough Growth Initiative focuses on non-controlling equity investments primarily in public companies with small- to medium-sized market capitalizations and mature private companies that are developing clinical-stage assets aligned with Pfizer's core areas of focus: Internal Medicine, Inflammation & Immunology, Oncology, Rare Disease, Vaccines, and Hospital. In addition to equity, Pfizer looks to strengthen collaboration through participation on company and scientific advisory boards, as well as securing certain strategic rights when of mutual fit.

Biotechnology companies interested in learning more may contact pbgi@pfizer.com .

About Pfizer: Breakthroughs That Change Patients' Lives

At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 170 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at www.Pfizer.com . In addition, to learn more, please visit us on www.Pfizer.com and follow us on Twitter at @Pfizer and @Pfizer News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer .

Disclosure Notice : The information contained in this release is as of January 12, 2021. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

This release contains forward-looking information about the Pfizer Breakthrough Growth Initiative (PBGI) and Pfizer's initial PBGI investments in ESSA Pharma, Trillium Therapeutics, Vedanta Biosciences and Homology Medicines, including their potential benefits, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development; uncertainties regarding the ability of the Pfizer Breakthrough Growth Initiative to identify investment candidates; uncertainties regarding the success of investments by the Pfizer Breakthrough Growth Initiative; uncertainties and variables inherent in business operating and financial performance, including, among other things, competitive developments and general economic, political, business, industry, regulatory and market conditions; future exchange and interest rates; changes in tax and other laws, regulations, rates and policies; uncertainties regarding the impact of COVID-19; and competitive developments.

A further description of risks and uncertainties can be found in Pfizer's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and in its subsequent reports on Form 10-Q, including in the sections thereof captioned "Risk Factors" and "Forward-Looking Information and Factors That May Affect Future Results", as well as in its subsequent reports on Form 8-K, all of which are filed with the U.S. Securities and Exchange Commission and available at www.sec.gov and www.pfizer.com .

Media Relations:
Pamela Eisele
212-733-1226
pamela.eisele@pfizer.com

News Provided by Business Wire via QuoteMedia

Pfizer Receives CHMP Positive Opinion for Novel COVID-19 Oral Treatment

  • CHMP recommends PAXLOVID™ (nirmatrelvir [PF-07321332] tablets and ritonavir tablets) for use in adults with COVID-19
  • If authorized, PAXLOVID will be the first COVID-19 oral treatment recommended in the EU
  • European Commission decision on conditional marketing authorization expected imminently

Pfizer Inc. (NYSE: PFE) announced today that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issued a positive opinion recommending the conditional marketing authorization (CMA) of Pfizer's PAXLOVID™ (nirmatrelvir [PF-07321332] tablets and ritonavir tablets) for the treatment of COVID-19 in adults who do not require supplemental oxygen and who are at increased risk for progressing to severe COVID-19.

"This expression of confidence in PAXLOVID comes at a critical moment as Europe addresses the ongoing challenges of the pandemic and as infection rates are on the rise in many countries across the globe," said Albert Bourla, Chairman and Chief Executive Officer, Pfizer. "We are proud to have a strong manufacturing footprint in Europe, which will help support the production of up to 120 million courses of PAXLOVID globally. Pending conditional marketing authorization from the European Commission, we will continue working closely with EU Member State governments to ensure this important treatment can be made available to patients across Europe as quickly as possible."

Keep reading... Show less

European Commission Approves Merck's KEYTRUDA® as Adjuvant Therapy for Certain Patients With Renal Cell Carcinoma Following Surgery

KEYTRUDA Is Now Approved as Monotherapy for Adults With RCC at Increased Risk of Recurrence Following Nephrectomy, or Following Nephrectomy and Resection of Metastatic Lesions

KEYTRUDA Is the First Immunotherapy Approved in Europe in the Adjuvant Setting for These Patients With RCC

Keep reading... Show less

Adaptimmune Announces Appointment of Cintia Piccina as Chief Commercial Officer

Adaptimmune Therapeutics plc (Nasdaq:ADAP), a leader in T-cell therapy to treat cancer, today announces the appointment of Cintia Piccina as Chief Commercial Officer effective January 31, 2022.

"I am delighted to welcome Cintia to our leadership team. She brings extensive commercial experience, including in cell and gene therapy, that will be key as we prepare to submit our first BLA for afami-cel this year, and build our commercial capabilities to support the launch of this initial product and future next-gen cell therapies within our MAGE-A4 franchise. Her fresh perspective and leadership abilities will support our continued growth in our mission to design and develop cell therapies for people with cancer," said Adrian Rawcliffe, Adaptimmune's Chief Executive Officer.

Keep reading... Show less

Merck Announces Second-Quarter 2022 Dividend

Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that the Board of Directors has declared a quarterly dividend of $0.69 per share of the company's common stock for the second quarter of 2022. Payment will be made on April 7, 2022 to shareholders of record at the close of business on March 15, 2022.

About Merck

Keep reading... Show less

 Pfizer and BioNTech Initiate Study to Evaluate Omicron-Based COVID-19 Vaccine in Adults 18 to 55 Years of Age

  • First participants enrolled in clinical trial received Omicron-based vaccine candidate as a two-dose primary series and as a booster dose

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced the initiation of a clinical study to evaluate the safety, tolerability and immunogenicity of an Omicron-based vaccine candidate in healthy adults 18 through 55 years of age. The study will have three cohorts examining different regimens of the current Pfizer-BioNTech COVID-19 vaccine or an Omicron-based vaccine. The study will draw upon some participants from the companies' Phase 3 COVID-19 booster study and is part of their ongoing efforts to address Omicron and determine the potential need for variant-based vaccines.

Keep reading... Show less

Merck Provides U.S. and Japan Regulatory Update for Gefapixant

Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) regarding Merck's New Drug Application (NDA) for gefapixant, the investigational, non-narcotic, orally administered selective P2X3 receptor antagonist, under development for the treatment of refractory chronic cough (RCC) or unexplained chronic cough (UCC) in adults. In March 2021, Merck announced that the FDA accepted the company's NDA for gefapixant. In the CRL, the FDA requested additional information related to measurement of efficacy. The CRL was not related to the safety of gefapixant. Merck is reviewing the letter and will meet with the agency to discuss next steps.

"We remain committed to advancing gefapixant for patients with refractory or unexplained chronic cough and will work with the FDA to address the agency's feedback," said Dr. Roy Baynes, senior vice president and head of global clinical development, chief medical officer, Merck Research Laboratories. "We believe there is a significant unmet need to help patients manage their chronic cough, as there are no available treatment options indicated in the U.S. specifically for this condition."

Keep reading... Show less

Latest Press Releases

Related News

×