New C$50 venture fund gets Merck a first look at new technologies in Quebec
This article was originally published in Scrip
Merck launched the Merck Lumira Bioscience Fund on 26 March with C$35 million to support venture capital investment in early stage biotechnology companies based in or considering a move to Quebec, Canada. The investment doesn't buy Merck any first right of refusal to partner with the Quebec startups, but it will get the first look at the early stage companies' technology. To acquire or license intellectual property, Merck will have to make separate arrangements outside of the venture funding contracts.
You may also be interested in...
Private Company Edition: Flagship ends 2017 with its biggest life science fund yet totaling $618m. Also, December sees a year-end surge in VC deals, including a $100m Series B round for Allakos.
Bristol became a major hematology player through its acquisition of Celgene and it has a multi-pronged plan for maintaining its position as generics approach for Revlimid and other key products.
The company will seek US FDA approval after intranasally administered zavegepant passes its second pivotal test in the treatment of migraine attacks, followed by ex-US approvals with partner Pfizer.