Pierre Fabre, the 2nd largest French independent pharmaceutical group, have launched Pierre Fabre Fund for Innovation, a new Open Innovation initiative targeting biotech companies, startups and research laboratories (public or private) specialized in oncology or dermatology, two of the core therapeutic activities of Pierre Fabre R&D.
Pierre Fabre Fund for Innovation will support R&D projects either within 24 months from reaching clinical development or at early stage of clinical development. The support will consist of diverse forms of collaboration: sharing Pierre Fabre’s expertise over the full pharmaceutical value chain, co-financing of the research program, taking minority equity participation or negotiating license agreements. The combination of diverse forms of support is also conceivable. Pierre Fabre’s support on the long term will be conditioned to the reaching of key milestones in the innovation process.
Open to all international partnership opportunity, the main goal for Pierre Fabre Fund for Innovation is to help innovative companies located in France or in Europe, at a time when many European biotech companies, startups and research laboratories often lack the internal capabilities expertise to move on from discovery to proof of concept, or lack financial resources to turn their projects into reality. Pierre Fabre’s expertise and capabilities made available to its future partners include pharmacology, new chemical entities, biotherapies, immunotherapy, translational medicine, preclinical and clinical development, production of clinical batches, market access as well as market and regulatory strategy.
Pierre Fabre Fund for Innovation will be led by a Steering Committee comprised of Bertrand Parmentier, Group CEO, Frédéric Duchesne, Pharmaceuticals CEO, Luc Péligry, Group CFO, Frédéric Desdouits, Business Development Director and Laurent Audoly, Pharmaceuticals R&D Director. Laurent Audoly, as the Project Managing Partner, will take the lead of the operational management of the program. This deliberately restricted and executive governance will ensure quick and customized feedbacks to applicants.
“With Pierre Fabre Fund for Innovation we have a dual purpose in mind. Firstly, we want to help speed up the development process of new molecules from preclinical to clinical phases, benefiting both their discoverers and the patients. In addition, Pierre Fabre Fund for Innovation’s long-term ambition is to foster our innovation process through an approach of co-construction with biotech companies, startups and research laboratories specialized in oncology, onco-dermatology or dermatology. It is therefore an innovative and collaborative initiative that falls within the framework of our Open Innovation strategy”, commented Bertrand Parmentier, Pierre Fabre Group CEO.
“Though many innovative companies discover technologies or molecules with real therapeutic benefits, some fail along the way due to a lack of resources to move effectively from discovery to development phase. With Pierre Fabre Innovation Fund, we intend to support these new businesses by giving them access to our scientific, medical, technical and industrial capabilities as well as to additional financial resources. We will eventually help them maximize their odds of success,” added Frédéric Duchesne, Pierre Fabre Pharmaceuticals CEO.