Rigontec Buy Adds RNA Tech To Merck & Co IO Portfolio
Merck & Co. adds to its immuno-oncology pipeline with the acquisition of Rigontec for an upfront payment of €115m, with the three-year-old company offering Merck a unique approach to immunotherapy and a lead candidate currently in Phase I/II trials, the first of its kind in human studies.
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While other venture capitalists are curbing their efforts in medtech, Wellington Partners intends to maintain its support for the sector earmarking about half of its new €210m WPLS-V fund for European medtech opportunities.
With its WPLS-IV fund now fully committed, Wellington Partners has returned to the market and raised €210m in its WPLS-V fund which will focus on European biotech and medtech opportunities.
The head of the German family-owned firm's venture fund tells Scrip that investing very early in promising start-ups gives Boehringer Ingelheim "a little bit of a head start" on rival pharma companies in identifying technologies that could translate into therapies five years down the line .