Servier Pharmaceuticals has added a new $10 million global center that doubles its Boston R&D lab space. The goal is to grow its oncology industry footprint in the U.S.
Housed in the Seaport Innovation District, the new 20,683 square-foot lab and office expansion will serve as the French pharmaceutical’s U.S. headquarters. Officially open July 21, the center is already home to more than six drug discovery projects, according to a press release.
In line with its aim to prioritize oncology, the commercial-stage company is dedicating more than 50% of its R&D budget to cancer research, with a focus on cancer metabolism, immune-oncology and cancer cell targeting. Over the next five years, Servier anticipates five FDA approvals and seven "oncology portfolio additions", though the company was not immediately available to provide more details.
In the last four years, the FDA has given Servier three oncology approvals including acute myeloid leukemia therapy Tibsovo. Just this May, the drug scored a wider indication, receiving the go-ahead to use it in combination with Bristol Myers Squibb’s chemotherapy drug Vidaza in the first-line setting.
Servier’s R&D strategy hasn't been impacted by biotech’s prolonged bear market, and the company is preparing for growth, including an expansion into myelodysplastic syndromes and glioma, Olivier Laureau, CEO and chair, told Fierce Biotech.
Servier’s Seaport presence has already created almost 400 jobs, with the new center expected to contribute about $70 million to the economy over the next few years.