NEW YORK, Dec. 27 (GenomeWeb News) - Pharmaceutical giant Pfizer invested $50 million in Perlegen Sciences, the private biotechnology company disclosed today.
The equity investment, in the form of preferred stock, gives Pfizer 12-percent ownership in the company.
If Perlegen executes an initial public offering in 2006, Pfizer has agreed to purchase up to an additional $25 million worth of stock in the company, Perlegen said.
The investment follows their first research collaboration, begun in December 2002, when Pfizer used Perlegen's DNA sample preparation, high-resolution SNP genotyping, and data-analysis capabilities.
Affymetrix, Maverick Capital, CSK Ventures, and Eli Lilly have stakes in Perlegen.