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New C$50 venture fund gets Merck a first look at new technologies in Quebec

 
• By Mandy Jackson

Merck launched the Merck Lumira Bioscience Fund on 26 March with C$35 million to support venture capital investment in early stage biotechnology companies based in or considering a move to Quebec, Canada. The investment doesn't buy Merck any first right of refusal to partner with the Quebec startups, but it will get the first look at the early stage companies' technology. To acquire or license intellectual property, Merck will have to make separate arrangements outside of the venture funding contracts.

Merck launched the Merck Lumira Bioscience Fund on 26 March with C$35 million to support venture capital investment in early stage biotechnology companies based in or considering a move to Quebec, Canada. The investment doesn't buy Merck any first right of refusal to partner with the Quebec startups, but it will get the first look at the early stage companies' technology. To acquire or license intellectual property, Merck will have to make separate arrangements outside of the venture funding contracts.

Including Merck's contribution, the venture fund managed by Lumira Capital in Montreal has C$43 million, but the fund's target is C$50 million. The investment gets Merck more than halfway to...

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