Pfizer invests $25M in biotech company

Pharmaceutical giant Pfizer invested $25 million Ribon Therapeutics, a biotech company working to develop therapeutics targeting stress support pathways in cancer and inflammatory diseases.

Ribon plans to use the investment to support the clinical development of its oral small molecule programs in oncology and immunology. Additionally, the company has partnered with Pfizer to support the advancement of its drug pipeline by leveraging Pfizer's clinical development and global development capabilities, according to a Jan. 30 Ribon news release.

"Pfizer's capital support and expertise will be instrumental as we work to advance our lead programs—RBN-2397 in cancer and RBN-3143 in immunology—to key clinical milestones and enable further drug discovery and development from our proprietary Beacon+ platform," Ribon Therapeutics President and CEO Prakash Raman, PhD, said. 

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