Less than one year after France-based Servier announced the launch of its U.S. subsidiary Servier Pharmaceuticals, the new company celebrated the grand opening of its 100-employee Boston facility that will initially focus its efforts on developing oncology therapies.
The new U.S.-based subsidiary is armed with a number of oncological assets privately-held Servier gained last year when it acquired Shire’s oncology business for $2.4 billion. Assets in its portfolio include Oncospar (pegaspargase), a treatment for acute lymphoblastic leukemia (ALL), ex-U.S. rights to Onivyde (irinotecan pegylated liposomal formulation) for pancreatic cancer and Asparlas, (calaspargase pegol), another ALL treatment that was approved by the U.S. Food and Drug Administration in December. Currently, Servier has at least a dozen oncology projects in clinical development in the U.S.
Servier Pharmaceuticals Chief Executive Officer David Lee, who was formerly with Shire, told BioSpace that Servier wanted to secure a toehold in the United States in order to benefit from the established vibrant life sciences ecosystem there.
"Coming into the Boston ecosystem is where we wanted to be. There are more than 600 life science companies in the area, along with the colleges, universities and hospitals throughout the state. We wanted to be part of this," Lee said in an exclusive interview. "We want to be there and grow. Our goal is to double our business over the next five years with a focus on oncology."
Olivier Laureau, president of Servier Foundation and Servier Group, said it was essential that Servier Pharmaceuticals have a home in the United States.
"To be in (Boston) proximity with academics and the number of biotechs is important. This is one of the best worldwide hubs for biotechnology. Because we want to be a global player, we have to be in the U.S.," he said.
With Servier’s arsenal of oncology assets and its internal pipeline, Lee said the company will opt primarily for organic growth but will also look at licensing and M&A opportunities. As part of that focus, the company also established the first office of the Servier BioInnovation network in Boston, with a focus on external innovation and partnerships. Claude Bertrand, head of research and development at Servier, said the company knew it needed a foothold in the U.S. to talk about potential deals and partnerships, which is why the company established the new network, a separate legal entity from the parent company. The company does have a number of established partnerships already with pharma companies large and small, including Novartis, Allogene Therapeutics, Ipsen, MacroGenics and Symphogen. Servier also has partnerships with Boston-area academic institutions including the Massachusetts Institute of Technology.
As the company moves forward with its new Massachusetts digs, Lee said the new U.S. focus will provide the company an opportunity to use its unique culture to provide critical medicines for patients suffering from a number of hematological cancers. Lee and Laureau both pointed to Servier’s long-standing commitment to patients. Laureau noted that since Servier is run by a private foundation, the company is not beholden to shareholders and investors. With that type of unique business model in place in the pharma industry, Laureau said Servier can be deliberate about putting patients first and executing on its long-term vision. Part of that deliberateness includes an annual reinvestment of 25 percent of its revenue into research and development, Laureau added.
"That’s important. This gives us a focus on innovation to serve patients’ needs. That’s not words, that’s realities in Servier," Laureau said.
That reality is something that has inspired Lee, who came from a background of companies living from quarter-to-quarter.
"That idea isn’t present at Servier. This allows us to focus on the science and the patients and to build a long and sustainable culture in Boston," he said.
Another benefit for the U.S. subsidiary that was established is an in-house patient expert council already in place in Boston. That council is comprised of patients, caregivers and advocates, as well as other experts across the patient experience to inform and advise the company on key business decisi...
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