France's largest drugmaker Sanofi is seeking more deals with venture capitalists such as its agreement with biotechnology company Warp Drive Bio. This thrust was confirmed by Sanofi CEO Chris Vierbacher.
Other firms that Sanofi has teamed up with are Third Rock Ventures and Greylock Partners in order to finance the purchase of Warp Drive Bio. The acquired asset uses genome technology to develop new treatments.
In pursuing this thrust, Sanofi has recruited an expert in reviewing venture capital projects but the CEO declined to identify the expert.
Vierbacher added, "The Warp Drive model where we are doing in-kind contributions for equity, where our researchers are directly involved in the project, that's to me more where we want to go. I don't want to have a portfolio of assets over here and then research and development projects over there."
The French pharmaceutical firm is interested in mobile technology in tracking patients and coordinating with health care providers, as well as implantable blood sugar meters for diabetics.
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