Merck Serono to Spin Off Parkinson's R&D - Pharmaceutical Technology

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

Merck Serono to Spin Off Parkinson's R&D


ePT--the Electronic Newsletter of Pharmaceutical Technology

Merck Serono, a division of Merck KGaA, announced in June, 2012 that it would be closing down operations in Geneva, Switzerland as part of its restructuring activities, but providing up to EUR 30 million ($36.9 million) in funding for start-up companies to reemploy some of those displaced workers. The first such start-up was announced on Jul. 30, 2012, funded by EUR 2.1 million ($2.57 million) in seed money from Merck Serono’s Entrepreneur Partnership Program.

The new company, Prexton Therapeutics, will employ Merck Serono scientists to continue work around Merck Serono’s R&D portfolio in the field of Parkinson’s disease. Its programs will leverage Merck Serono’s portfolio of compounds targeting the metabotropic glutamate receptors mGluR3 and mGluR4. Prexton Therapeutics plans to develop the mGluR programs from lead optimization up to clinical Phase I and will look for partnership and licensing opportunities for further development.

According to François Naef, chairman of the board of directors of Merck Serono, “We are really proud and satisfied that this first project is now coming to life. Through such initiatives, not only will we be able to maintain jobs in the Geneva area but also unique expertise.”

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
FDASIA was signed into law two years ago. Where has the most progress been made in implementation?
Reducing drug shortages
Breakthrough designations
Protecting the supply chain
Expedited reviews of drug submissions
More stakeholder involvement
Reducing drug shortages
70%
Breakthrough designations
4%
Protecting the supply chain
17%
Expedited reviews of drug submissions
2%
More stakeholder involvement
7%
View Results
Eric Langerr Outsourcing Outlook Eric LangerTargeting Different Off-Shore Destinations
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerAsymmetric Synthesis Continues to Advance
Jill Wechsler Regulatory Watch Jill Wechsler Data Integrity Key to GMP Compliance
Sean Milmo European Regulatory WatchSean MilmoExtending the Scope of Pharmacovigilance Comes at a Price
From Generics to Supergenerics
CMOs and the Track-and-Trace Race: Are You Engaged Yet?
Ebola Outbreak Raises Ethical Issues
Better Comms Means a Fitter Future for Pharma, Part 2: Realizing the Benefits of Unified Communications
Better Comms Means a Fitter Future for Pharma, Part 1: Challenges and Changes
Source: ePT--the Electronic Newsletter of Pharmaceutical Technology,
Click here