Issue Date: August 6, 2012
Merck Serono Launches Geneva Spin-Off
Merck Serono has launched the first spin-off venture resulting from a $40 million program to employ researchers whose jobs are being cut with the closure of the company’s headquarters site in Geneva. Prexton Therapeutics, formed in a partnership with Eclosion, a biotech incubator in Geneva, will pursue neurodegenerative disease therapies based on Merck Serono’s R&D portfolio for Parkinson’s disease. Merck Serono will invest $2.6 million in the venture. The end of research operations in Geneva is eliminating about 500 jobs.
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