Merck Invests in Research Partnerships in Israel to Boost Innovation
Merck is increasingly counting on partnerships with Israeli biotech companies, as demonstrated by its cooperation with Metabomed and ChanBio, both of which joined the Merck Serono Israel Bioincubator now. Merck is already cooperating with multiple Israeli start-up companies such as Qlight Nanotech, as well as research institutes such as the Weizmann Institute of Science as it seeks innovations that could become the basis for future products.
“The innovative landscape of Israel fits in perfectly with our ‘Living Innovation’ claim,” said Stefan Oschmann, Merck’s Executive Board member responsible for the Pharmaceuticals businesses, today at Merck’s site in Yavne, Israel. “In Israel we not only have a past which has led to some of Merck’s most important products like Rebif and Erbitux, but also a promising future because we continue to find very interesting and cutting-edge science and the support here in Israel to translate that science into products.”
The € 10 million MS Ventures Israel Bioincubator Fund is focused on pre-seed and seed opportunities originating in Israel. The Merck Serono Israel Bioincubator so far housed Neviah Genomics and Merck expects several more companies to enter.
Metabomed focuses on research in the field of cancer metabolism and computational biology. Its founders besides others are from the Tel Aviv University and the Technion Israel Institute of Technology, both in Israel.
ChanBio will concentrate on the discovery of antibodies selective for ion channels considered to be significant therapeutic targets for the treatment of Multiple Sclerosis.
"Strategic investments in external innovation are a key component of our strategy,” Oschmann said. “Our MS Ventures fund demonstrates our commitment to creating long-term relationships with and tapping into the innovative entrepreneurial spirit of biotech companies.”
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