Corporate venture capital has long been an important source of capital for early-stage biotechs and shows no signs of diminishing, with more and more biopharma companies stepping up their investment activity.

According to a new report, Pfizer, Celgene and Roche are among drugmakers whose strategic venture arms are becoming increasingly visible, picking up the pace and gaining on the longstanding leaders such as Novartis, Johnson & Johnson and GlaxoSmithKline’s SR One unit.

The largest recipients of this venture capital are oncology companies, the report said, as well as medical device, central nervous system disease and anti-infectives players.