France-based pharmaceutical firm Pierre Fabre is set to begin investing in startups through a recently formed open innovation initiative called Pierre Fabre Fund for Innovation.
The fund will look to back oncology or dermatology-focused biotech companies, startups and research laboratories conducting research and development projects that are in the early stages of clinical development, or which are set to enter clinical testing within two years.
Bertrand Parmentier, Pierre Fabre Group’s CEO, explained: “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 specialised in oncology, onco-dermatology or dermatology.”
Pierre Fabre Fund for Innovation will target companies based in France or elsewhere in Europe, and will provide expertise in areas such as pharmacology, chemical entities, preclinical and clinical development, and market and regulatory strategy.
Laurent Audoly, Pierre Fabre’s global head of R&D, will manage the initiative as project managing partner. It will be overseen by a steering committee of Audoly, Parmentier, pharmaceuticals CEO Frédéric Duchesne, Pierre Fabre CFO Luc Péligry and Frédéric Desdouits, who acts as the group’s business development director.