Merck Serono Launches Strategic Venture Capital Fund
New Venture Capital Fund Will Invest in Biotech Start-up Companies
Merck Serono, a division of Merck KGaA, announced the formation of Merck Serono Ventures, a strategic, corporate venture capital fund to invest in emerging biotechnology companies. The fund will support biotech start-up companies that have the potential to provide innovative products in Merck Seron's core therapeutic areas, in particular in Neurodegenerative diseases, oncology and Autoimmune & 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," said Bernhard Kirschbaum, Executive Vice President of Research & 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 organization."
Merck Serono Ventures has an initial commitment to invest up to EUR 40 million during the next five years.
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