Pfizer-backed start-up gets $103 million kick-start

Venture capital firms and a funding agency have joined US pharma giant Pfizer by backing SpringWorks Therapeutics, a mission-driven medicines company dedicated to developing innovative potential new treatments for underserved patient communities.

SpringWorks, which was conceived by Pfizer, announced its launch on Monday with a completed $103 million Series A financing which was also funded by US firms Bain Capital Life Sciences, Bain Capital Double Impact, OrbiMed and UK-government-backed research charity LifeArc. The company has rights to four clinical-stage experimental therapies from Pfizer.