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ChemRar signs scouting pharma partnering agreement with Sanofi
ChemRar Ventures has entered into scouting agreement with Sanofi for a venture investment in Russia and Asia.
As per the agreement, ChemRar Ventures will source early and late stage compounds within a certain defined area of Sanofi's therapeutic interest and negotiating the potential pharma partnering engagement with Sanofi.
ChemRar will also collaborate with a number of academic Institutions including Moscow Institute of Physics and Technology, Petrov's Institute of Oncology, Center of Endocrinology of the Russian Academy of Medical Sciences, UCSD, Scripps Research Institute, Salk Institute, Wi2 of University of Wisconsin, Fox Chase Cancer Center and others.
ChemRar Ventures CEO Nikolay Merkin said that the company hopes that this is the first step in fostering a platform for true co-investment, co-licensing and co-development collaborations with Sanofi.
"Those we achieved with other major corporate partners interested in leveraging their business on the high growing pharmaceutical markets," Merkin added.
The agreement, which is signed for 18 months, may be extended thereafter.