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Pfizer, Merck and Lilly Partner to Get Enlightened

Posted on July 11, 2008

Big pharma makes strange bedfellows. Pfizer (PFE), Merck (MRK), and Eli Lilly (LLY) announced yesterday morning that they've launched a joint venture of sorts called, Enlight Biosciences . They're doing it with the help of the Boston-based VC ( Venture Creation, the website says, not Venture Capital ) firm PureTech Ventures.All together the partners are kicking in as much as $39 million bucks to advance breakthrough technologies that can fundamentally alter drug discovery and development. To put that amount of money in perspective, Pfizer takes in more than that in one day's sales. Becaus...

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pharma , vc , venture capital