Sanofi Genzyme is reportedly looking to expand its footing into a bustling tech campus in the Cambridge, Mass. area.
According to the Boston Globe, real estate brokers disclosed that the biotech company is on the hunt for about 400,000 square feet of space for offices and labs in Cambridge Crossing. The new space would be enough to accommodate up to 2,000 new employees.
Sanofi Genzyme, which is the rare disease division of French-owned Sanofi SA, already has around 5,000 employees in Massachusetts. Since being acquired by Sanofi in 2011, Genzyme’s biotech unit in Cambridge has been a major source of growth the company. Sales from Genzyme surged by about 33 percent in the second quarter of this year, partially driven by growth from its atopic dermatitis medication, Dupixent.
Sanofi is reportedly one of several pharma and tech companies shopping for space in the Cambridge Crossing neighborhood.
Read the full Boston Globe report.