Merck launches fund biotechnology start-ups in Israel

Merck launches fund for biotechnology start-ups in Israel

4:21 PM, 25th May 2011
Merck launches fund for biotechnology start-ups in Israel
Dr Karl-Ludwig Kley, Chairman of the Executive Board, Merck.

  • Initiation of the Merck Serono Israel Bioincubator Programme
  • New call for proposals within the Global Enterprise Collaboration Framework programme of the Ministry of Industry, Trade and Labour

 

DARMSTADT, GERMANY: Merck KGaA announced the initiation of a Merck Serono Israel Bioincubator fund, a strategic and corporate initiative targeting Israeli biotechnology start-ups. The fund was announced during a visit by Dr Karl-Ludwig Kley, Chairman of the Executive Board, Merck, in Israel, where he met Shalom Simhon, Minister of Industry, Trade and Labour and Avi Hasson, Chief Scientist.

 

The incubator programme will support entrepreneurial start-up companies and offer both seed financing and opportunity of using a dedicated part of Merck Serono’s Israeli research and development centre, Interlab, for their own research. Over a seven-year time span, Merck Serono will invest a total of EUR 10 million. In parallel Merck Chemicals will initiate a programme for start-up companies in the area of high-tech and life science materials. Companies in Israeli will be selected based on their potential for developing innovative technologies.

 

“We hope this new incubator programme will further strengthen our research co-operation because Israel is one of the top countries for scientific innovation and start-up companies in the fields of biopharmaceuticals and high-tech materials,” said Kley.

 

Merck has participated since 2007 in the Global Enterprise Collaboration Framework Programme of the of Israeli Ministry of Industry, Trade and Labour, which was set up to grant Israeli partners several benefits.

(C)WOC News

 

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