The French biotech company's €200m Servier Ventures unit will initially target oncology and neurology startups, focusing on Europe.
France-based pharmaceutical company Servier has committed €200m ($234m) to newly formed corporate venture capital subsidiary Servier Ventures to boost innovation in the European biotech sector.
The fund will target startups developing treatments for cancer and neurological conditions, two of Servier’s main areas of interest. It will initially invest in Europe, but the company is open to expanding internationally.
“Servier Ventures will finance and support emerging biotech companies and, if needed, provide them access to Servier’s scientific expertise and capabilities, to boost their potential and foster the creation of innovative new medicines,” said Alexis Vandier, head of Servier Ventures, in a statement announcing the launch.
“The creation of the fund will strengthen Servier’s positioning as a partner of choice for promising companies seeking to take a strategic step forward, aligned with our focus toward innovation for the benefit of patients.”
The launch of Servier Ventures represents the company’s first step into investing in startups directly. It had previously explored commitments to external VC funds, while exploring partnership opportunities with oncology or neurology-focused companies.
