It seems that big pharma are stepping up to the plate to fund innovative early stage research.
The latest company to join forces with a venture capital firm is Merck (known as MSD outside of the USA), who have partnered with Flagship Ventures to fund north American biotech start-ups with products addressing unmet medical needs. The deal was announced on 10 April 2012.
Merck’s commitment to the fund includes support of the start-ups in the Flagship portfolio with “no strings attached” development and commercial expertise. And the deal involves Merck’s research unit, as well as the $250 million venture fund they set up earlier this year – Merck Research Ventures Fund (MRVF).
Link to the article in Xconomy: Merck Teams With Flagship to Bankroll Early Biotech Ventures | Xconomy.