Pfizer to funnel $500M into biotechs, offering 'crucial capital' during the COVID-19 crisis

In a pandemic world, the biotech funding environment couldn’t look brighter, and today Pfizer shone its own light.

The Big Pharma giant is committing $500 million through the Pfizer Breakthrough Growth Initiative to a series of biotechs alongside access to its “scientific expertise” in order to keep the “most promising clinical development programs” ongoing during a pandemic that is hitting so many new trial starts.