Pfizer Ventures

Pfizer Ventures (PV) is the venture capital arm of Pfizer Inc. and, according to its 2025 year-in-review newsletter, was founded in 2004 to invest in areas of current and future strategic importance to Pfizer. In 2018 Pfizer added a $600 million commitment that took the vehicle's total funding to more than $1 billion, with 25 percent of the new money set aside for neuroscience after Pfizer had cut its internal neuroscience research earlier that year. At that time Pfizer consolidated its R&D Innovate program into the venture group.

PV invests in potentially life-changing therapeutics, emphasizing Pfizer's core areas of oncology, inflammation and immunology, cardiometabolic disease and vaccines, along with next-generation modalities such as targeted bifunctional biology, molecular glues, next-generation antibody drug conjugates and T-cell engagers, and multi-specific biologics. It participates from seed through later rounds: in 2025 it co-led Enodia Therapeutics' seed round, joined OTR Therapeutics' $100 million Series A and led Cartography Biosciences' $67 million Series B.

PV ties its investing to pipeline impact for the parent. In 2025 its portfolio companies announced 20 strategic transactions, two of them with Pfizer, and the portfolio recorded exits including Capstan Therapeutics (acquired by AbbVie for $2.1 billion), Interius Biotherapeutics (acquired by Kite, a Gilead company, for $350 million) and ImCheck Therapeutics (acquired by Ipsen). The same year PV set up a China-based venture vehicle with a local venture group to deepen engagement with Chinese biotech, and made a direct investment in Shanghai-based OTR. Nineteen portfolio companies raised about $1 billion in new or follow-on financing in 2025, and PV made nine new investments.