SpringWorks Therapeutics Spins Out of Pfizer with $103 Million Series A

Equities Research |

SpringWorks Therapeutics announced its launch today, spinning out of Pfizer (NYSE: PFE) with the rights to four clinical stage product candidates and a $103 million war chest courtesy of Pfizer, Bain Capital, OrbiMed and LifeArc.

“SpringWorks Therapeutics will pursue the development of medicines across therapeutic areas, focused on diseases where there is an urgent need and the potential for the greatest impact for patients,” said Lara Sullivan, MD, Founder and President of SpringWorks Therapeutics and a former VP at Pfizer.

Freda Lewis-Hall, MD, DFAPA, Pfizer's Chief Medical Officer, said, "We hope that our investment in SpringWorks Therapeutics will, over time, enable us to realize even more value for patients and society. SpringWorks Therapeutics started as an idea about a new way to get things done with—and for—patients, it’s been a tremendous team effort, and we and our partners are excited to see it become a reality."

Given the supporting cast of players, we like the chances of this spin off ending up more like Frasier and less like The Brady Brides or AfterMASH...

SpringWorks' Pipeline

Dr. Sullivan led the portfolio strategy for Pfizer's early stage pipeline and its medical collaboration funding platform. She has more than two decades of senior leadership experience in biopharmaceuticals, healthcare and life sciences. Other key officers include Daniel Lynch, Executive Chairman, who has over 25 years of industry experience serving in management and board positions for a number of top-tier biotechnology and pharmaceutical companies, and L. Mary Smith, PhD, VP of Clinical Research and Development, who brings more than 20 years of research and clinical development experience from both pharmaceutical and biotech companies. Most recently, Dr. Smith was the EVP of Clinical Development at Pfizer subsidiary Bamboo Therapeutics and the VP of Product Development at United Therapeutics (Nasdaq: UTHR), where she led the development and approval of Unituxin for high-risk neuroblastoma, a rare pediatric cancer.

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Symbol Name Price Change % Volume
PFE Pfizer Inc. 36.01 -0.25 -0.69 25,808,704 Trade


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