01.08.2012 - Merck Serono has spun off the first company as part of its Entrepreneur Partnership Program. The project was launched in April 2012 when mother company Merck KGaA in Darmstadt had decided to end its activities in Geneva.
Newco Prexton Therapeutics will be formed around Merck Serono's R&D portfolio in the field of Parkinson's disease and will focus on programmes that target the metabotropic glutamate receptors mGluR3 and mGluR4. Prexton will be hosted in the offices and laboratory of Eclosion, a biotech start-up incubator supported by the Geneva authorities and Merck Serono which will invest €2.1m as seed funding. Helping spin-off companies such as Prexton was one of Merck Serono’s proposals to employee groups unsatisfied by social plan and severance options. In total, the pharma has reserved €30m to back start-ups by employees at its operations in Geneva. Prexton will be run by a team of Merck Serono scientists, with a member of Merck Serono Ventures on the board of directors.
16.12.2014 Two consortia combined of 144 European companies, research institutes and universities have been selected for funding by the EIT in the areas of health and raw materials. Both clusters are set to acquire €1.1bn over the next seven years.
10.12.2014 When it comes to the biggest investors in Research and Development (R&D) Swiss pharma top dogs Novartis and Roche have defended their positioning among the top ten companies worldwide – according to a recently published EU study.
05.12.2014 Austrian contract research company VTU has entered into a development and commercialisation agreement with US company RCT. The partners want to combine both companies' Pichia pastoris protein production technologies under VTU's roof.
03.12.2014 Danish biotech pharma Ascendis has successfully completed a €48m Series D financing round. The funding is expected to support its late-stage clinical trials to push its lead drug into Phase III trials.