Sanofi launches $265M biotech partnering project

Sanofi-Aventis is converting a factory near Paris into a biotechnology development hub, with its doors wide open to smaller biotech companies looking to partner on projects. And the French pharma giant says that the $265 million venture marks their commitment to ramping up their work on biologics.

"We will also welcome other biotechnology companies, we do this because collaborations can provide us with new products," said Chief Executive Chris Viehbacher. "It's an opportunity for the company to do partnerships with biotechnology and research companies."

Antibody development will be a key focus.

"The investment of nearly €200 million will give rise to the first cell culture biotechnology platform of the group to produce monoclonal antibodies as from 2012," the company stated. Just days ago Sanofi dumped 14 development projects as it focused its efforts on experimental therapies that offer the most potential for growth.

- read the story from Reuters

ALSO: Sanofi says that it expects the FDA to make a decision on the heart drug Multaq in the second quarter.  Report

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