Pfizer, Bain Form Startup Focusing on Central Nervous Disorders
- Cerevel gets $350 million from Bain, compounds from Pfizer
- Drugmaker takes 25% stake in the venture, board seats
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Pfizer Inc. and Bain Capital LP are launching a neuroscience startup with $350 million in funding to focus on finding treatments for Alzheimer’s, Parkinson’s and other disorders of the central nervous system.
Pfizer will get a 25 percent stake in the Boston-based venture, called Cerevel Therapeutics, the two companies said in a statement Tuesday. The New York-based drugmaker will contribute a portfolio of compounds that are in various stages of development, including three in clinical testing.