Merck & Co., Inc. Plans $100 Million Quebec Pharmaceutical Fund
Published: Mar 23, 2012
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.