Merck Serono sets up strategic venture capital fund to invest in biotech start-ups
In the face of a global economic crisis and a very tough Initial Public Offering market, as well as the recent move towards mega-mergers in the pharmaceuticals sector, small and start-up biotechnology firms are having a struggle to attract funding for their businesses. However, help might now be at hand from a German drug major.
Merck Serono, a division of Merck KGaA of Darmstadt, Germany, has announced the formation of Merck Serono Ventures, a strategic, corporate venture-capital fund to invest in emerging biotechnology companies.
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