Canaan Partners Hires Ex-Pfizer Exec, Raises $1B, Secures $100M for Biotech

Canaan Partners, a longstanding venture capital firm, has recently bolstered its biotech investment portfolio by hiring former Pfizer executive Uwe Schoenbeck, Ph.D., who previously guided a Pfizer initiative to foster academic innovation, and securing an additional $100 million in funding. This new capital will be strategically deployed by Canaan's biopharma team, with a focus on startup formation and syndication efforts. The firm has successfully raised over $1 billion since early 2023, indicating a strong momentum in its investment activities.