The Caisse des Depots, a French public group and long-term investor in regional economic development, have signed an agreement with Sanofi to cover the Caisse des Depots buy-back of Biocitech, the technology park dedicated to life sciences.

Biocitech is a key element in the development of the biotechnology sector in the Seine-Saint-Denis department and in the Ile de France region. Sanofi was represented by general secretary Philippe Peyre. Jean-Pierre Jouyet, general manager and Stephane Keita, territorial and network development manager represented the Caisse des Depots.

Claude Bartolone, president of the French National Assembly and representative for the Seine-Saint-Denis department attended today’s official signing. He was joined by Corinne Valls, vice-president of the Seine-Saint-Denis departmental council and Mayor of Romainville and Stephane Troussel, president of the Seine-Saint-Denis departmental council. Gerard Cosme, president of the Est Ensemble metropolitan area also attended the ceremony with the Biocitech SAS president, Jean-Francois Boussard.

In 2002, Sanofi decided to launch an industrialization operation in partnership with the local authorities. Biocitech was fully established in 2003 and demonstrates Sanofi’s commitment to rehabilitate the area. The biotechnology and life sciences park currently hosts 25 companies, which employ around 350 people in Romainville.

The technology park is also a key element in the Medicen Paris Region network, the Greater Paris region’s world-class competitiveness hub for health and new therapies. Biocitech provides a range of specific services for firms operating within biotechnology, biopharmaceuticals, fine chemicals, medical and in vitro diagnostics and medical devices.

Today’s agreement has been established in collaboration with local authorities and the Ile de France institutions. Their aim is to develop the technology park. A new company, Biocitech Immobilier, will own it. The Caisse des Depots will retain an initial 40 per cent share.

They will acquire the remaining 60 per cent of the shares after further redevelopment is complete in the Galien building. Galapagos, one of the resident companies, will move into the Galien building in 2015.

Additionally, a portion of the site, representing 3.4 hectares (9.21 acres) will be rehabilitated and reorganized, in order to promote the economic development of the area. The objective is to turn Biocitech into an open campus. The firms installed at Biocitech will complement one another and generate strong synergies and collaborations.

Some key features at Biocitech: a unique blend of real estate and industrial expertise; a service for young and thriving innovative companies; a tailored offer for biotechnology SMEs, for activities such as imaging, medical devices, diagnostics and environment; an active and long-lasting ecosystem, based on the residents’ commitment.

This agreement is the start of a new growth dynamic. It is supported by an investment plan to optimize and rationalize the buildings. All the partners will get together in order to have the residents stay as long as possible and to attract new tenants, while adding value to the real estate reserve.

Sanofi, an integrated global healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients’ needs. The company has core strengths in the field of healthcare with seven growth platforms: diabetes solutions, human vaccines, innovative drugs, consumer healthcare, emerging markets, animal health and the new Genzyme.