Eddie Brock Sr. teamed together with Richard Parker to develop a revolutionary means to heal humanity of disease and illness. Their basis was to create a symbiote, The Suit; the project was named Project Venom.
Richard and Eddie were't able to complete their project and sought the partnership and resources of Trask Industries to help complete their project. Brock signed an agreement over to Trask, and Trask eventually took the project away from Parker and Brock.
To prove their ownership of the suit in court, Richard and Eddie began secretly working on their own version of the suit. It is known they reached stage 2 of the suit - form-fitting and strength-enhancing. However, as they flew to New York to battle Trask in court, Eddie tested the suit on the plane, which ultimately resulted in the deaths of himself and his wife, as well as Richard and Mary Parker.
Peter met his long-lost childhood friend, Eddie Brock Jr., after discovering boxes of old documents and video tapes in a hidden room in his basement, indicating both their fathers worked on the 'Venom Project'. Eddie was a student at ESU, and showed Peter 'their inheritance', A biological "suit" that could enhance and heal a sick person. Peter took a sample of the suit, but spilled some onto him, which formed into a black costume. When Peter raced after an armed robber, the suit took a turn for the worse. Recollecting the death of Uncle Ben, Peter lost control and fell off a building onto some electricity cables. Peter returned to ESU where he confronted Eddie and revealed his identity. He destroyed the rest of the formula. Eddie then pulled another flask from storage, and transformed into Venom. He tracked Peter down to Midtown High and the two battled. Eddie stepped on a loose power cable, vaporizing him instantly.
However Venom survived and is still trying to get his revenge on Spider-Man, and the two have been enemies since.