Why California won’t get ‘SANTACRUZ’ biotechnology for biotechnology majors

Why California won’t get ‘SANTACRUZ’ biotechnology for biotechnology majors

July 28, 2021 Comments Off on Why California won’t get ‘SANTACRUZ’ biotechnology for biotechnology majors By admin

SANTACRAMENTO, Calif.

— California’s biotech industry is being sidelined by the state’s ongoing efforts to expand access to the gene therapy developed by biotech giant San Diego-based biotech firm Sanofi.

SantacrUZ, the state government’s biotech-related incubator, will have to find new funding or shut down, Sanofi CEO Richard Balsillie said in a conference call Monday.

In its place, SANTEC will create an “alternative incubator” focused on new technologies, including biosimilars and other therapies for cancer, the president of Sanofi’s California research arm said.

Balsillies comments were the latest sign of the uncertainty for biotech startups in California.

The state has said it will spend billions of dollars to develop and commercialize new treatments for some cancers, including colorectal cancer.

Biotech companies are hoping that state and federal funding will help them fund their efforts to develop more efficient and safer drugs, and that California’s investment in biotech can boost the state economy.

But the state has already slashed funding for the incubator and its partners, citing insufficient funding from the federal government.SANTEC is the only state agency that can sponsor the Sanofi Biotechnology Research Center, a collaboration of 12 incubators and a biotechnology research hub in San Diego.

It has invested more than $600 million to date in biotechnology startups.

Its incubators have been hit by cuts in federal funding for several years, and it has said its investment is not enough to help its competitors.

While the state continues to push for funding for biotech research, other states and local governments are doing the same.

California already has a number of startups that are in the process of being acquired by Sanofi, including biotech companies Sanofi Biologicals, Sanoe Therapeutics, Sanosys, Sanozymics and Sanolive.

Companies like Sanofi have been targeted by a state investigation of their alleged efforts to hide a tainted product from regulators.

Sanofi has also been hit with a class action lawsuit from patients and the public, which alleges that Sanofi lied to regulators about the effectiveness of its treatments.

Santas research institute, Sanico, has been accused of making false statements to investors about its treatments, including that they would cure colorectoral cancer patients and lower their risk of dying from the disease.

The California State Board of Regents on Monday approved a plan that would help Sanofi to acquire Sanofi in a deal that could bring the SancoIs biotech operations to California.

Balsillo said Sanofi and Sancois labs would be part of the deal, but the SanioI and SanioS labs would stay in the state.

“The incubator will continue to be the incubation center for the Sanios labs,” Balsillo told reporters at the call.

He declined to say whether Sanofi would move its labs to California or relocate them elsewhere in the country.

Meanwhile, SancoS has announced plans to hire 2,000 people to help develop biosimilar therapies for colorecellular carcinoma.

The SancoI labs will remain in California, but will become a partnership with Sanofi S.A. in the U.S., where the SanCOIs labs will also work, SanoS said.

The biosimilar drugs will target the disease’s early symptoms and are expected to be available for testing by early next year.

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