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$100 million investment to address pharma’s strategic areas of interest.
Pfizer and Flagship Pioneering, a life sciences venture capital organization, revealed in a press release their intentions to collaborate in an effort to create a new supply of innovative medicines. Per the agreement, both companies will invest $50 million towards developing 10 single-asset programs by leveraging Flagship’s ecosystem of human health companies and biotechnology platforms.
“At Pfizer, we are expanding our efforts to pursue potential breakthrough science with unique approaches and funding mechanisms designed to leverage the dynamic scientific ecosystem,” said Mikael Dolsten, MD, PhD, chief scientific officer, president, worldwide research, development and medical, Pfizer, in a company release.“This collaboration is an exciting opportunity for Pfizer to bring deep scientific expertise and apply our development and regulatory strength to Flagship’s diverse portfolio of technology platforms, translating early-stage innovation to potential medicines.”
Reference: Flagship Pioneering and Pfizer Partner to Accelerate Development of Innovative Medicines Targeting Unmet Needs. Pfizer. July 18, 2023. Accessed July 20, 2023. https://www.pfizer.com/news/press-release/press-release-detail/flagship-pioneering-and-pfizer-partner-accelerate