Merck KGaA announced the initiation of a Merck Serono Israel BioIncubator Fund targeting Israeli biotech start-ups. The program is designed to accelerate the successful development of start-ups. It will offer both seed funding and the opportunity to use Merck Serono's Israeli R&D center, Interlab.
Merck Serono will invest 10 Mio Euro over 7 years. In parallel, Merck Chemicals will initiate a program for start ups and invest 3 Mio Euros. Companies will be selected for the program based on their potential for developing innovative technologies. The incubator program encompasses the fields of pharmaceuticals, life sciences, and performance materials.
Posted by Bruce Lehr April 1, 2011.