Merck Research Labs forms partnership with Flagship Ventures
Combines Merck’s drug development expertise with Flagship’s experience in building start-ups
Venture capital firm Flagship Ventures, based in Cambridge, MA, US, has formed a partnership with Merck Research Laboratories (MRL) and its US$250m Merck Research Ventures Fund to launch and back biotech start-ups focused on the development of new drugs in areas of unmet medical need.
The Merck fund invested an undisclosed amount in Flagship Ventures Fund IV LP, a US$270m oversubscribed venture capital VC fund that closed in January.
‘The collaboration with Flagship underscores Merck’s commitment to engage fully with the entrepreneurial ecosystem at the earliest possible stages and to access breakthrough science for the development of novel therapeutics,’ said Roger Pomerantz, senior vice president worldwide licensing and knowledge management at Merck.
