French pharma Servier has agreed to buy Danish biotech Symphogen for an undisclosed sum. Headquartered in Copenhagen, Symphogen has created an antibody discovery and research platform for developing new cancer treatments.

The deal strengthens Servier’s R&D antibody pipeline as well as its ambition to become a recognized player in oncology. The companies have been collaborating for more than two years in immuno-oncology.

Under the terms of the agreement, Servier will gain full ownership of Symphogen’s proprietary pipeline of oncology and immuno-oncology programs along with its antibody discovery and development platform.

“Antibody-based therapies remain a key therapeutic modality within oncology and immuno-oncology, and with Symphogen’s strong antibody capabilities, this acquisition will boost significantly our R&D in oncology and in our other therapeutic areas. Our goal is to bring life-saving treatments to greater numbers of patients around the world,” said Servier’s president, Olivier Laureau.

Once the transaction completes, Symphogen will become Servier’s antibody center of excellence for its therapeutic areas. It will operate as a standalone organization within the Servier group, maintaining its headquarters in Ballerup.

This is the latest move in Servier’s strategy to boost its oncology capabilities. Last October, it acquired blood cancer treatment Pixuvri from US-based CTI BioPharma. In August 2018, the French drugmaker paid $2.4 billion to buy Shire’s oncology portfolio.