French biotech firm Hybrigenics said this week that it has incorporated a US-based subsidiary, Hybrigenics Corporation.
To be based in Cambridge, Mass., the subsidiary will focus primarily on Hybrigenics' protein-protein interaction fee-for-service business, and will represent the company for US-based "R&D, regulatory, and business development matters," it said.
Hybrigenics' protein-protein interaction business currently generates more than 30 percent of its total revenues in the US, or roughly €1 million ($1.35 million) per year, the company said.
It added that, with launch of the subsidiary, it aims to "significantly boost American revenues."