In October 2018, Pfizer Inc. and Bain Capital LP announced the formation of a company which would develop drugs for disorders of the central nervous system (CNS).
CNS diseases, such as Alzheimer’s, Parkinson’s, and Lou Gehrig’s disease have been extremely difficult for drug manufacturers to come up with particular solutions for the same. Before in January 2018, Pfizer announced that it was preparing to close its ongoing neuroscience drug development. Pfizer’s withdrawal during the start of 2018 seemed that it would withdraw the necessary focus from the domain. However, lately the company took the surprising big step to create its new company, Cerevel Therapeutics, which is composed of its neuroscience assets and funded with $350 million from Bain.
Cerevel Therapeutics is expected to get around 10 programs in neuroscience and neuropsychiatry from Pfizer, including three ongoing clinical trials. Pfizer is going to include two directors: Doug Giordano (senior vice president of global business development) and Morris Birnbaum (chief scientific officer of internal medicine). Koppel and Chris Gordon, managing director at Bain Capital Private Equity, are also expected to join the board. Pfizer will own 25 percent of the Boston-area company.
The $350 million from Bain to start Cerevel may be just the inception; the company specified that it has the capability to offer more funding. Bain’s other health-care investments include Quintiles (now known as IQVIA), Solid Biosciences, and Dicerna Pharmaceuticals.
– Victor Mukherjee,