Pfizer Ventures

Pfizer Ventures (PV), the venture capital arm of Pfizer Inc., was founded in 2004 and invests for return in areas of current or future strategic interest to Pfizer. PV seeks to remain at the forefront of life science advances, looking to identify and invest in emerging companies that are developing transformative medicines and technologies that have the potential to enhance Pfizer’s pipeline and shape the future of our industry.

Overview of Operations

With a $600M capital commitment from Pfizer for private investments in 2018, PV invests in private companies at all stages of development, with a strong focus on early stage opportunities. Other investments, including start-ups and spinouts, will also be considered. We actively work with our current portfolio companies throughout their growth cycles, contributing strategic guidance in addition to our capital and providing access to internal Pfizer expertise, whenever appropriate. While primarily U.S. focused, international investments may represent up to 20% of the portfolio. We have the ability to lead or join a syndicate of investors and will seek board representation commensurate with our investment.

Investment Strategy

  • Primarily focused on potentially transformative therapeutics, with an emphasis on Pfizer's core therapeutic areas (Inflammation & Immunology, Internal Medicine, Oncology, Rare Disease and Vaccines).
  • Focus also includes neuroscience investments, following Pfizer's decision to continue advancing research in this critical area of unmet medical need through a venture capital strategy.
  • Will also consider platform technologies, diagnostics, drug delivery, pharmaceutical services and other technologies that have the potential to transform drug discovery and development.

Key Points

  • Active investor, working with management to develop product strategy and build shareholder value.
  • Bring Pfizer pedigree and perspective to our portfolio companies, with the potential to utilize the network and expertise of Pfizer.
  • Streamlined approval process for investment decisions.
  • Potential for Pfizer business development relationship whenever appropriate.
  • Emphasis primarily on therapeutics
  • Platforms, tools and technologies with potential to transform drug discovery and development also considered
  • U.S. focused
  • Approximately 20% of investments may be outside U.S.
Investment Type
  • Direct investing
  • All stages possible, with focus on early stage
  • Strategic and financial
  • Measured over long term
  • $600M capital commitment from Pfizer
  • Up to $10M in first investment; reserved allocation for follow-on investments
  • Invest as member of a syndicate - lead where appropriate
  • Syndicate member located near company critical
  • Potential for business relationship with Pfizer considered in investment criteria
  • Can be transacted in parallel with investment or explored in the future
Influence in Development
  • Contribute capital and industry experience to help guide development and company growth
  • Scientific advisory board participation when appropriate
  • Minority ownership positions
  • Board seats where appropriate
Deal Structure
  • Traditional VC investment - circumstances determine
  • Product rights not required