Merck KGaA announced the initiation of a new funding programme targeting Israeli biotechnology start-ups in the fields of pharmaceuticals, life sciences and performance materials – the Merck Serono Israel Bioincubator Fund. The program will offer seed financing and the opportunity of using part of Merck Serono’s Israeli R&D center, Interlab. Over a seven-year time span, Merck Serono will invest a total of EUR 10 million.
In parallel Merck Chemicals will initiate a program for start-up companies in the area of high-tech and life science materials, allocateing EUR 3 million within the next three years in this program.
Israeli companies will be selected based on their potential for developing innovative technologies aligned with the company’s strategy, which could enable the discovery and development of new products.
Merck Serono is the largest division of Merck and is specialize in the treatment of cancer, neurodegenerative diseases, infertility, endocrine and metabolic disorders, cardiovascular diseases and other serious, life-altering diseases. Merck has participated since 2007 in the Global Enterprise Collaboration Framework Program of the Israeli Ministry of Industry, Trade and Labour.
- Merck KGaA, Darmstadt, Germany