Prne
March 22nd, 2009
GENEVA, Switzerland - New Venture Capital Fund Will Invest in Biotech Start-up Companies
Focused on Merck Serono’s Core Therapeutic Areas
Merck Serono, a division of Merck KGaA, Darmstadt, Germany,
announced today 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 Serono’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.”
“The creation of a venture capital fund underlines our
commitment to be Best Partner for biotech entrepreneurs and their investors,”
said Vincent Aurentz, Executive Vice President of Portfolio Development at
Merck Serono. “This activity complements our toolkit of collaborative
approaches to build a high-quality portfolio with our partners.”
‘Merck Serono Ventures’ has an initial commitment to invest up
to EUR 40 million during the next five years. A key component of Merck
Serono’s strategy to be recognized as the ‘Best Partner’ in the
biopharmaceutical industry, ‘Merck Serono Ventures’ will be included in the
company’s Portfolio Development function and closely linked to the Research &
Development organization.
Companies wishing to submit proposals or receive additional information
can contact ‘Merck Serono Ventures’ at:
www.merckserono.com/en/partnering/venture_capital_fund/venture_capital_fund.html
About Merck Serono
Merck Serono is the division for innovative prescription
pharmaceuticals of Merck, a global pharmaceutical and chemical group.
Headquartered in Geneva, Switzerland, Merck Serono discovers, develops,
manufactures and markets innovative small molecules and biopharmaceuticals to
help patients with unmet medical needs. Its North American business operates
in the United States and Canada as EMD Serono.
Merck Serono has leading brands serving patients with cancer
(Erbitux(R), cetuximab), multiple sclerosis (Rebif(R), interferon beta-1a),
infertility (Gonal-f(R), follitropin alfa), endocrine and cardiometabolic
disorders (Glucophage(R), metformin); (Concor(R), bisoprolol); (Euthyrox(R),
levothyroxine); (Saizen(R) and Serostim(R), somatropin). Not all products are
available in all markets.
With an annual R&D expenditure of around EUR 1bn, Merck Serono
is committed to growing its business in specialist-focused therapeutic areas
including neurodegenerative diseases, oncology, fertility and endocrinology,
as well as new areas potentially arising out of research and development in
autoimmune and inflammatory diseases.
About Merck
Merck is a global pharmaceutical and chemical company with total revenues
of EUR 7.6 billion in 2008, a history that began in 1668, and a future shaped
by 32,800 employees in 59 countries. Its success is characterized by
innovations from entrepreneurial employees. Merck’s operating activities come
under the umbrella of Merck KGaA, in which the Merck family holds an
approximately 70% interest and free shareholders own the remaining
approximately 30%. In 1917 the U.S. subsidiary Merck & Co. was expropriated
and has been an independent company ever since.
For more information, please visit www.merckserono.com
or www.merck.de
www.merckserono.com
Source: Merck Serono
Media Relations, Tel.: +41-22-414-36-00; Merck Serono, 9 Chemin des Mines, 1202 Geneva, Switzerland
Filed under Biotechnology, Health, Health Care / Hospitals, Investors, Pharmaceuticals, Venture Capital | Tags: Europe, Geneva, Switzerland | Comment Below
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