Exhibition Stands News
Merck KGaA forms Merck Serono Ventures
23 Mar 2009
A corporate venture capital fund to enable investment in emerging biotechnology firms has been established by Merck KGaA.
Merck Serono Ventures is aimed at supporting biotech start-ups that could supply products in the company''s core therapeutic areas.
These include autoimmune and inflammatory diseases, as well as oncology and neurodegenerative conditions.
An initial commitment of up to €40 million (£37.4 million) in the first five years of the project is to be invested.
Bernhard Kirschbaum, executive vice-president of research and development at Merck Serono, said start-up firms were "important" for scientific innovation.
"The creation of a venture capital fund underlines our commitment to be best partner for biotech entrepreneurs and their investors," he added.
Meanwhile, earlier this month saw Merck KGaA announce that Fast Forward and the Merck Serono division had partnered to fund and evaluate research projects focused on multiple sclerosis.
The agreement is set to last two years but could be extended for a further three.
