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Pfizer’s Investment Strategy




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Video title: Pfizer’s Investment Strategy
Released on: December 02, 2008. © PharmaVentures Ltd
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  • Summary
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Pfizer recognises the importance of biotechnology and the need for good science. Barbara Dalton and Daniel Grant explain their different roles in Pfizer and the ways in which the company can invest to help nurture new technologies and early-stage companies. With a look at Australia’s biotechnology industry they discuss how they see the financial crisis affecting the investment cycles, deal-making and the variety of opportunities Pfizer is looking for.
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Pfizer's investment model.
Fintan Walton:
Hello and welcome to pharmaventures business review here in Melbourne Australia. On this show I have Barbara Dalton who is vice president of venture capital at Pfizer and Daniel Grant who is the head of strategic in Australia. Welcome to the show both of you.
Barbara Dalton:
Thank you for the invite.
Fintan Walton:
Barbara Dalton I want to turn to you first. You play a very important role within the business development group within Pfizer in Europe and that role obviously is the role of venture capital and what I would like to start with you is to understand what your particular role does in relation to investing in biotechnology?
Barbara Dalton:
Okay on behalf of the corporation we invest for financial return in areas that could be a future or current interest to the corporation. The corporation has diverse areas of interest and we have the ability to work with small entrepreneural companies innovative companies at their early stages of development. in a typical venture capital role the same way your private venture capitalists do in terms of supporting the growth and development, helping them channel their programs towards their customer and that's one of the things that we bring to the table as a corporate venture group as we bring the perspective of the customer to the table since most biotechnology companies will have to, to be successful to deal with the pharmaceutical industry.
Fintan Walton:
So clearly there is this the traditional strategic alliances, the licensing and collaborative arrangements that Pfizer will enter into with the biotechnology companies so would your investments follow that or the other way around?
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Daniel Grant
Head of Strategic Alliances
Barbara Dalton is a Pharmaceutical executive who has spent over 20 years in the industry - most of that time as a corporate venture capitalist. At Pfizer she is responsible for growing their corporate venture activities, managing the current equity portfolio and advising on structured equity transactions. She was trained as a research scientist in a virology and immunology laboratory at The Medical College of Pennsylvania where she received her Ph.D. She pursued inflammation drug discovery research at SmithKline's research laboratories and joined their venture capital group, S.R. One, Limited in the early 1990's. While there Barbara Dalton was a founding member of Euclid SR Partners, a private New York based venture capital firm where SmithKline (now GSK) was a leading limited partner. She joined that firm full time in 2003. Last year she moved to her current position at Pfizer. Barbara Dalton has managed over 20 fund investments and 60 diverse company investments in the US and Europe and has had direct investing responsibility for biotechnology therapeutic and platform technology companies, as well as some healthcare IT and service businesses. In the community she has been active in her regional venture investors association, the MAC Alliance, serving most recently as Chairman, and supported the venture philanthropy efforts of the Institute for the Study of Ageing as a board member. She is an advisor to the Dean of the Eberly College of Science, where she received her undergraduate degree, and a new member of The Penn State Research Foundation Board of Directors. She is also a member of the board of the New York Biotech Association and the National Venture Capital Association. Dr. Daniel Grant is the Head of Strategic Alliances for PfizerAustralia. In collaboration with colleagues in Pfizer's Worldwide Business Development team, he is responsible for identifying and managing collaborative opportunities that arise from Australia's research landscape that align with Pfizer's strategic direction. Prior to joining Pfizer, Dr Daniel Grant was a Senior Business Development Manager at Melbourne Ventures Pty Ltd, the commercialisation arm of the University of Melbourne, and the University of Melbourne's representative on the Investment Committee of Uniseed Pty Ltd, a pre-seed investment company for the Universities of Queensland, NSW and Melbourne. Dr Daniel Grant has sat on the board of a number of biotechnology spin-out companies and was the Commercialisation Manager at Biocomm Services Pty Ltd, a company established by the Victorian State Government to bridge the gap between research, academia and the commercial world. Dr Daniel Grant has M.Sc. in Respiratory Physiology, a Ph.D. in Cardiovascular Physiology and an MBA. He has more than 15 years experience in applied biomedical research in Canada and Australia.
Pfizer
Pfizer is the world's largest research based biomedical and pharmaceutical company, in 2007 the company earned $448.4 billion in revenues and invested $8.1 billion in research and development. Its headquarters are located in New York with research and development faculties based in the US and in the UK. Pfizer produces the number-one selling drug Lipitor; the neuropathic pain, fibromyalgia drug Lyrica; the oral antifungal medication Diflucan, the long-acting antibiotic Zithromax, the well-known erectile dysfunction drug Viagra, and the anti inflammatoryCelebrex. Recent innovations include Sutent �a novel cancer medicine that both cuts off the blood supply that feeds tumors and destroys cellular reproduction, and Chantix �a new prescription medicine and accompanying support plan designed specifically to help smokers quit.