Finance Watch: Pfizer Ventures' Dalton Makes Sense Of Neuroscience Focus Within New $600m VC Fund Commitment
Venture Capital Edition: Pfizer deprioritized neuroscience as an early R&D focus earlier this year, but will stay involved by spending 25% of the $600m added to its venture fund on neurology investments. Also, China VC investment keeps up fast pace and Alta Partners closes a new $130m health care fund.
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Private Company Edition: Also, Medicxi’s new €200m fund will be reinvested in a portfolio of six life science companies and Silverback more than doubled its 2020 money with an $85m series C round.
Deal Snapshot: The $445m Cerevel gains will help as it plans to have at least six programs in the clinic within the next year. CEO Tony Coles will head up a public firm for the first time since Amgen bought Onyx.
Private Company Edition: The allogeneic cell therapy developer founded by former Juno execs launched in January 2019 without disclosing its initial funding. Other recent venture capital mega-rounds include $192m for Orca, $170m for C4, $118m for Shattuck and $102m for GreenLight.