The Israeli biotech companies Metabomed and ChanBio joined the Merck Serono Israel Bioincubator. The bioincubator aims at stimulating innovation by bridging the gap between academic research and the biotechnology industry. It offers seed financing and access to dedicated, state-of-the-art laboratory facilities within Inter-Lab, Merck Serono’s Israel-based R&D center. Merck Serono is committing a total of EUR 10 million in the initiative until 2018.
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.
Merck announced that it would increase the 2013 and 2014 R&D budgets for its two divisions Performance Materials and Merck Millipore, while global R&D spending for its pharmaceuticals businesses would be close to the year-earlier level. In 2012, Merck spent a total of € 1.5 billion on R&D, equivalent to 14.1 % of Group sales. 80 % of that amount was attributable to pharmaceuticals and 20 % to chemicals divisions.
- Merck KGaA, Darmstadt, Germany