Pfizer expands investment strategy to include early-stage companies

Pfizer has announced a broadening of its research and development investment strategy to include early-stage companies on the leading edge of scientific innovation for the first time.

An initial series of four investments have already been confirmed as part of this initiative, with each of the companies to benefit from equity and access to resources for research in promising areas aligned with Pfizer's core interests.

The recipients include BioAtla, which employs expertise in protein engineering to develop monoclonal antibodies with CAB profiles, as well as NextCure, an immuno-oncology focused biopharmaceutical company Pfizer helped to form.

Also benefiting will be neurodegenerative disease specialist Cortexyme and 4D Molecular Therapeutics, which is creating gene therapy products for serious unmet medical conditions.

These first four investments of the newly focused initiative will provide $46 million (31.81 million pounds) in financing to the companies in question.

Dr Mikael Dolsten, president of Pfizer's worldwide research and development business, said: "We look forward to continuing to explore opportunities to bring our resources to emerging companies investigating in areas where we feel we could make a difference for patients."