NEW YORK–(BUSINESS WIRE)–Pfizer Inc. (NYSE:PFE) today announced it plans to invest $600 million
in biotechnology and other emerging growth companies through Pfizer
Ventures, the company’s venture investment vehicle. In addition to
increased funding, Pfizer will extend its leadership as a venture
capital investor with an expanded team that leverages expertise across
venture capital investing, business development, drug discovery and
clinical development.

“By expanding Pfizer’s venture capital efforts under Pfizer Ventures, we
hope to extend both the breadth and depth of Pfizer’s support for the
development of cutting-edge science from concept to products,” said
Barbara Dalton, Ph.D., Vice President, Pfizer Worldwide Business
Development and Senior Managing Partner of Pfizer Ventures. “Building on
our existing investments and proven track-record, we will look to
identify and invest in emerging companies that are advancing compounds
and technologies with the hope of delivering life-changing therapies to
patients in need.”

Neuroscience Investment Strategy

Pfizer Ventures will seek to invest approximately 25% of its available
capital ($150 million) in promising early-stage neuroscience companies.
By leveraging an equity investment model, Pfizer can support a broad
array of early neuroscience research and product development
opportunities, which are critical in this nascent area of science.

“By changing the way we invest in neuroscience, we hope to support an
energized community of biotech entrepreneurs who are progressing the
understanding of the molecular mechanisms of neurologic diseases and
help advance potential treatments for people with neurological
conditions,” said Denis Patrick, Ph.D., Vice President, Pfizer Worldwide
Research and Development and Managing Partner of Pfizer Ventures.

Initial areas of interest for Pfizer Ventures include
neuro-degeneration, neuro-inflammation and neuro-metabolic disorders,
and other areas where rapidly advancing science could lead to
breakthroughs for patients.

Six of Pfizer Ventures’ current portfolio company investments focus on
breakthrough neuroscience, including Aquinnah, Autifony, Cortexyme,
MindImmune, MISSION, and Neuronetics. In addition, Pfizer was
instrumental in the creation, funding and launch of the Dementia
Discovery Fund (DDF) in 2015.

DDF is a specialist venture capital fund that invests in novel science
to create meaningful new medicines for dementia. Since its launch in
October 2015, DDF has raised more than $190 million and has made
significant progress building an initial portfolio of 12 investments in
dementia drug discovery companies and projects. These investments target
promising areas of neuroscience research such as microglial biology and
inflammation, mitochondrial dynamics, trafficking and membrane biology
and synaptic physiology and function.

“Pfizer’s investment in Aquinnah is helping advance two exciting Stress
Granule neurodegenerative programs in Amyotrophic Lateral Sclerosis
(ALS) and Alzheimer’s disease,” said Dr. Glenn Larsen, co-founder,
president and CEO of Aquinnah. “By being located in LabCentral within
the Pfizer building in Kendall Square and through our joint efforts,
Aquinnah has access to a leading group of scientific advisors, as well
as state of the art technology facilities.”

Beyond neuroscience, Pfizer Ventures will continue to invest across a
broad range of therapeutic areas of interest to Pfizer such as oncology,
inflammation and immunology, rare disease, internal medicine and
vaccines. Companies developing technologies that have the potential to
transform drug discovery, development and manufacturing will also be
considered.

Pfizer Ventures Team and Portfolio

Pfizer is also significantly expanding the Pfizer Ventures team, which
will continue to be led by Dr. Dalton. Joining Pfizer’s current venture
investing team of Elaine Jones and Bill Burkoth, are Dr. Patrick, and
Laszlo Kiss, Margi McLoughlin, Chris O’Donnell and Nikola Trbovic.

The new organization consolidates R&D
Innovate
Pfizer’s R&D equity investment vehicle, with Pfizer
Venture Investments, the Company’s long-standing venture investment
group. The expanded team adds R&D expertise with a focus on neuroscience
chemistry and pharmacology. With world-class expertise in drug discovery
and clinical development, Pfizer Ventures expects to continue to
generate strong returns for Pfizer while providing portfolio companies
with the direction and support needed to accelerate advancement of
critical therapies.

Pfizer Ventures actively manages an existing investment portfolio of
more than 40
companies
. Combined with approximately $500 million invested to
date, the additional funding brings Pfizer Ventures’ total assets under
management to more than $1 billion. Recent investments include Adapsyn
Bioscience, Complexa, Cydan II, DIR Technologies, eFFECTOR Therapeutics,
Jnana Therapeutics, and Strata Oncology.

Details regarding the Pfizer Ventures team and investment portfolio can
be viewed at www.pfizerventures.com.

Working together for a healthier world®

At Pfizer, we apply science and our global resources to bring therapies
to people that extend and significantly improve their lives. We strive
to set the standard for quality, safety and value in the discovery,
development and manufacture of health care products. Our global
portfolio includes medicines and vaccines as well as many of the world’s
best-known consumer health care products. Every day, Pfizer colleagues
work across developed and emerging markets to advance wellness,
prevention, treatments and cures that challenge the most feared diseases
of our time. Consistent with our responsibility as one of the world’s
premier innovative biopharmaceutical companies, we collaborate with
health care providers, governments and local communities to support and
expand access to reliable, affordable health care around the world. For
more than 150 years, we have worked to make a difference for all who
rely on us. We routinely post information that may be important to
investors on our website at www.pfizer.com. In
addition, to learn more, please visit us on www.pfizer.com
and follow us on Twitter at @Pfizer
and @Pfizer_News
LinkedIn,
YouTube
and like us on Facebook at Facebook.com/Pfizer.

DISCLOSURE NOTICE: The information contained in this release
is as of June 6, 2018. Pfizer assumes no obligation to update
forward-looking statements contained in this release as the result of
new information or future events or developments.

This release contains forward-looking information about Pfizer
Ventures and Pfizer’s plans to invest in early-stage neuroscience
companies, including their potential benefits, that involves substantial
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements. Risks and
uncertainties include, among other things, the uncertainties inherent in
research and development; uncertainties regarding the ability of Pfizer
Ventures to identify investment candidates; uncertainties regarding the
success of Pfizer Ventures’ investments; uncertainties and variables
inherent in business operating and financial performance, including,
among other things, competitive developments and general economic,
political, business, industry, regulatory and market conditions; future
exchange and interest rates; and changes in tax and other laws,
regulations, rates and policies.

A further description of risks and uncertainties can be found in
Pfizer’s Annual Report on Form 10-K for the fiscal year ended December
31, 2017 and in its subsequent reports on Form 10-Q, including in the
sections thereof captioned “Risk Factors” and “Forward-Looking
Information and Factors That May Affect Future Results”, as well as in
its subsequent reports on Form 8-K, all of which are filed with the U.S.
Securities and Exchange Commission and available at 
www.sec.gov and www.pfizer.com.

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