Under the multi-year program, the company will award a total of about $3m in grants to investigators in the US.
This program is an extension of the company’s Advancing Science through Pfizer Investigator Research Exchange (Aspire) initiative and the first to focus on breast cancer research.
In February, Ibrance secured accelerated approval from the US Food and Drug Administration (FDA) for use in combination with letrozole.
The combination drug is approved to treat postmenopausal women with estrogen receptor-positive, human epidermal growth factor receptor 2-negative (ER+/HER2-) advanced breast cancer as initial endocrine-based therapy for their metastatic disease.
Pfizer Oncology senior medical director Dr Julia Perkins Smith said: "We believe the Aspire Breast Cancer Research Awards will contribute important information to our body of knowledge about the role Ibrance plays in the treatment and clinical management of advanced breast cancer, and will complement the robust clinical development program we have ongoing.
"Through these awards, we also look forward to supporting the mission of the Aspire program to further academic research and nurture the career development of emerging investigators in a disease area of high unmet medical need."
In order to select grantees for this program, the company will conduct a competitive application process, which will be overseen by an independent review panel of breast cancer experts.