Issue Date: April 2, 2012
Merck To Support Quebec Venture Fund
Merck & Co. is investing $35 million in a new investment fund, the Merck Lumira Biosciences Fund, that’s intended to support early life sciences innovation in Quebec. Other investors in the fund, which hopes to raise $50 million in all, include Lumira Capital and Teralys Capital. Merck’s contribution is part of the $100 million it promised in 2010 to invest in Quebec life sciences R&D when it announced its decision to close the Merck Frosst Centre for Therapeutic Research in Montreal.
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