Pfizer Ventures invests about $100 million per year and has a portfolio of roughly 50 companies, mostly early-stage biotechs. Pfizer committed an additional $600 million to the venture arm in 2018, bringing the value of its assets to over $1 billion., she said she often sees two mistakes that instantly sink a startup's chances of landing a deal. Dalton shared those biggest mistakes in a fireside chat this week at the BIO CEO & Investor Conference in New York.
"If you are creating a therapeutic that is going to help a patient who is also being targeted by gene therapy, suppose that gene therapy is quite successful," Dalton said. "Your patient population can go away." In the case of Pfizer Ventures, she still sees a flood of pitches related to erectile dysfunction, given the pharma company's well-known blockbuster pill, Viagra. But Viagra now faces competition from generics, and is no longer a focus for Pfizer.
Pfizer Ventures largely follows the parent company's interests, she said. Areas of focus now include oncology, rare diseases, and vaccines.
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