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Merck & Co., Inc. (MRK) Plans $100 Million Quebec Pharmaceutical Fund


3/23/2012 7:57:52 AM

Merck Canada is partnering with Lumira Capital and other venture capital firms to launch a multimillion-dollar research and development fund to attract pharmaceutical firms to Quebec. The Montreal-based subsidiary of the U.S. pharmaceutical giant is set to announce an investment Monday to create the Merck-Lumira BioScience Fund. The fund will initially be worth several tens of millions of dollars, The Canadian Press has learned. Merck has committed to investing $100 million through 2015 in biopharmaceutical research and development collaborations with Quebec-based companies and academic institutions.



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