EuroBiotech: Why did Servier decide to build its own venture arm with Servier Ventures, rather than continue investing through external funds or partnerships?
Servier Ventures Launches to Fuel Healthcare Innovation with Strategic Funding
Servier was already active on several fronts. We had research collaborations, classical business development partnerships, and we were limited partners (LP) in several venture capital funds. Over time, however, we saw a gap emerging, both from our side and within the biotech ecosystem. Biotech companies were increasingly coming to us when partnering discussions overlapped with fundraising needs. At the same time, corporate venture capital has become a more important driver of innovation globally, and there is growing evidence that biotech companies can benefit from having corporate investors. For Servier, the gap was structural. We cover the full value chain, from early research to development, which is relatively unique today. Very early on, research collaborations work well. Very late, traditional licensing or mergers and acquisitions make sense. But in between, when companies are no longer pure platforms but not yet fully mature assets, it was difficult to find the right vehicle. This stage, typically late preclinical, is when companies need both capital and industrial input: support on CMC (Chemistry, Manufacturing, and Controls), regulatory strategy, and development planning. Servier Ventures was created to fill that gap and to engage more directly with innovation, rather than remaining one step removed as an LP.
EuroBiotech: What types of technologies or assets are you particularly interested in?
Our focus remains firmly on drugs and therapeutic molecules that align with Servier's strategy. When we refer to "technology", it often reflects the early-stage nature of biotech. At seed or preclinical stages, companies frequently sit between a platform and an asset.
Take neurology or neuro-oncology, which are key focus areas for us. A major challenge is crossing the blood-brain barrier, which often requires combining delivery technologies with specific molecular targets. That is what we mean by technology. We will not invest in medtech or standalone AI platforms. AI can be part of the story, but only if it clearly supports the development of a defined therapeutic asset. We are not interested in platforms where the path to a drug remains unclear.
EuroBiotech: How narrowly defined is your investment thesis within oncology and neurology?
We invest where we believe Servier can add real value. This is a strategic fund, and some investments may one day become part of Servier's portfolio, perhaps one or two out of ten. Initially, we will stay closely aligned with Servier's business development priorities to ensure long-term relevance. That said, Servier is evolving rapidly, and Servier Ventures can also be a way to explore new modalities for the future.
We allow some flexibility, particularly on modalities, but not a complete divergence from Servier's core focus. For example, cell and gene therapies are not currently a priority and are unlikely to be early investments.
EuroBiotech: At what stage do you intend to invest, and how do you balance early scientific risk with strategic relevance?
We do not aim to create companies ourselves; excellent seed funds already play that role. We typically come in after that phase, often at a second seed or Series A, focusing on late preclinical assets. This is where we believe we can add the most value. Once an asset reaches Phase I or II, discussions naturally shift toward partnering or licensing, which is handled by our business development teams. Servier Ventures sits upstream of that process.
EuroBiotech: What does access to Servier's expertise look like for portfolio companies?
We offer access to capabilities as well as scientific, clinical and industrial networks. This can include mentoring, expert input, or connections to leading hospital centers in oncology and neurology. We also have laboratory capabilities, for example at Paris Saclay (France), that can be accessed when relevant. However, flexibility and independence are essential. Portfolio companies remain fully autonomous. We do not require preferential rights or exclusiveness. The goal is to help companies reach their full potential. If a partnership emerges later, that is a positive outcome for everyone.
EuroBiotech: What weaknesses do you most often see in early-stage biotech companies, and what convinces you to invest?
A frequent challenge is the transition from a strong scientific idea to a team capable of execution. That often links back to funding, because building the right team requires resources. Another issue is focus. Companies sometimes pursue multiple directions instead of focusing on the area with the highest potential. What excites us is highly differentiated science, first-in-class approaches, even if they carry more risk. As a venture investor, we can take risks that are not always possible in later-stage business development. Our research expertise helps us assess preclinical data realistically, including the limitations of disease models.
EuroBiotech: Why start with a European focus, and how do you view the European biotech ecosystem today?
Europe is where we know the ecosystem best, and proximity matters. Our largest R&D footprint is in France, which makes close interaction easier. That said, innovation is global, and expansion beyond Europe is clearly possible in the future. Europe's main strength is scientific excellence, from hospitals, academic centers and research institutes across the UK, France, Benelux, the Nordics, Germany, and Southern Europe. Historically, the weakness was scale-up financing beyond early stages, forcing companies to move too early to the US. But there is improvement. Larger European funds are emerging, and recent successful exits are reinforcing the ecosystem. We are in a much better place than a decade ago.
EuroBiotech: How will you measure the success of Servier Ventures in ten years?
Financial return does matter of course, but it is not the only metric. Servier is governed by a foundation, with profits reinvested into R&D. Our ultimate measure of success is delivering real innovation to patients: approved medicines that make a difference, particularly in areas like neurology and aggressive cancers where unmet needs are enormous.
EuroBiotech: And to finish on a more personal level, what excites you most and what concerns you most about building Servier Ventures today?
What excites me is the demand. Since the announcement, the response from the ecosystem has been overwhelming. There is a real need, and Servier can play a meaningful role, especially in supporting European innovation. What concerns me most is the geopolitical context. Innovation should be global, and patients benefit when scientists collaborate across borders. I hope tensions do not undermine our collective ability to work together for patients worldwide.
