GERMANY - Merck launches strategic venture capital fund
Merck KGaA has launched Merck Serono Ventures, a venture capital fund designed to invest in biotech start-up companies in the company's core therapeutic areas.
Darmstadt-headquartered Merck is a global pharmaceutical and chemical company with annual revenues of EUR 7.6bn. The business has 32,800 employees based in 59 countries.
Merck Serono Ventures' has an initial commitment to invest up to EUR 40m during the next five years. The fund will be included in the company's portfolio development function and closely linked to the Research & Development organization. Particular areas of interest include neurodegenerative diseases, oncology and autoimmune & inflammatory diseases.
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