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Cerevel Launches With Pfizer's Early CNS Assets And $350m From Bain Capital

 
• By Mandy Jackson

Pfizer ended its early neuroscience R&D work earlier this year, but will retain a 25% stake in the start-up, which may begin a Phase III Parkinson's disease study in 2019. This is the second time Bain has financed a Pfizer spin-out.

MR image of Human brain

Pfizer Inc. and Bain Capital LP are teaming up once again to launch a new company with a portfolio of Pfizer assets. This time, the big pharma is spinning out some of the neuroscience programs it scuttled earlier this year into Cerevel Therapeutics LLC, backed by $350m from two Bain private equity funds.

The start-up doesn't even have a CEO yet, but it has a Parkinson's disease drug candidate that Cerevel is expected to move into a Phase III clinical trial in 2019. Bain and Pfizer will put together a team of central nervous system (CNS) scientists and life science executives to work at the company's Boston-area headquarters

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