Merck launches venture fund

Merck KGaA has launched Merck Serono Ventures, a strategic venture capital fund that will invest in biotech start-up companies focused on Merck's core therapeutic areas. Particular areas of interest include neurodegenerative diseases, oncology and autoimmune & inflammatory diseases.

Merck Serono Ventures has an initial commitment to invest up to EUR40m during the next five years.

The fund will be included in the company's portfolio development function and closely linked to the research & development organisation.

Headquartered in Darmstadt, Merck is a global pharmaceutical and chemical company with total revenues of EUR7.6bn in 2008 with 32,800 employees in 59 countries. 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.

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