France-based pharmaceutical company Sanofi yesterday launched genome research company Warp Drive Bio alongside venture firms Third Rock Ventures and Greylock Partners, in a joint investment that could be as much as $125m in a five year period.
The investors have committed to jointly fund up to $75m in equity.
Warp Drive Bio had previously been incubated by Third Rock Ventures for two years and was conceived by scientist Gregory Verdine, a Third Rock partner and Harvard University professor.
Warp Drive Bio uses a ‘genomic search engine’ to enable natural products within micro-organisms to be identified using their genomic signatures.
Sanofi has provided Warp Drive Bio with access to its "strains" library and natural product expertise and will be receive access to the company’s technology as well.
The collaboration is the latest example of venture firms tying up with a strategic pharmaceutical company. Last month, for example, Atlas Venture established a strategic partnership with Shire’s Human Genetic Therapies unit.
Warp Drive Bio will look to advance its research and development plan in collaboration with Sanofi, but will also be able to look for additional strategic partnerships.
Elias Zerhouni, president of global research & development at Sanofi, said: "We are very excited about this investment and collaborative partnership in a start-up biotechnology company based on outstanding science" declared. By combining Warp Drive Bio’s unique proprietary technology and Sanofi’s extensive drug development capabilities, we are convinced that this open and creative model of pharma-biotech partnership will boost innovation for the benefit of patients."