Canaan adds $100M+ to boost biopharma investing, brings on former Pfizer exec

Canaan, a decades-old tech and life sciences venture capital firm, plans to invest more heavily in biopharma going forward.

The Menlo Park, CA-based firm added more than $100 million to its 13th fund and brought former Pfizer executive Uwe Schoenbeck on board as a venture partner, it said Wednesday morning. Schoenbeck has already helped Canaan scout investments and led the firm to contribute to the $132 million Series B for cancer biotech Alterome earlier this month.

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