Pfizer has teamed up with Bain Capital to launch Cerevel Therapeutics, a biopharmaceutical company based in Boston that will focus on developing treatments for a number of central nervous system (CNS) disorders.
It has almost been a year since Pfizer announced that they were to cease R&D in new neuroscience programmes and abandoned the development of potential therapies for Alzheimer’s and Parkinson’s.
The Pharma giant has now decided to contribute 3 clinical-stage drug candidates while Bain Capital provided $350 million in funds.
With the assets from Pfizer and the funds from Bain, Cerevel will focus on developing treatments for CNS disorders where there is a large unmet need for patients.
The spin-out will commence with a pipeline headed by PF-06649751– a dopamine 1 partial agonist for Parkinson’s that is due to start a phase 3 study next year.