Merck Serono, part of Germany’s Merck pharmaceuticals and chemicals group, has announced the establishment of Merck Serono Ventures, a corporate venture capital fund that will invest in
Merck Serono, part of Germany’s Merck pharmaceuticals and chemicals group, has announced the establishment of Merck Serono Ventures, a corporate venture capital fund that will invest in emerging biotechnology companies.
The fund will support biotech start-up companies that have the potential to provide innovative products in Merck Serono’s core therapeutic areas, in particular in neurodegenerative diseases, oncology and autoimmune and inflammatory diseases.
Merck Serono Ventures also will target companies developing innovative technologies that could enable the discovery and development of new products in Merck Serono’s core therapeutic areas.
‘Biotech start-up companies are an important element in scientific innovation,’ says Bernhard Kirschbaum, executive vice president of research and development at Merck Serono. ‘Merck Serono’s venture capital fund will provide the opportunity to support scientific excellence in our core fields of interest and provide start-up companies with the opportunity to interact early on with our organisation.’
Merck Serono Ventures has an initial commitment to invest up to EUR40m during the next five years and will be included in the company’s portfolio development function and closely linked to the research and development organisation.
Merck Serono is the division for prescription pharmaceuticals of Darmstadt-based Merck, a global pharmaceutical and chemical group. Headquartered in Geneva, Switzerland, it discovers, develops, manufactures and markets innovative small molecules and biopharmaceuticals to help patients with unmet medical needs. Its North American business operates in the US and Canada as EMD Serono.
