Merck to invest in local biotech

Under the terms of the agreement, Merck Serono will cooperate and assist select Israeli biotech companies in their R&D development and in marketing themselves worldwide.

November 19, 2007 09:50
1 minute read.


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


Merck KGaA, the oldest pharmaceutical and chemical company in the world, is joining the Chief Scientist's cooperation program for research and development in an effort to invest in Israeli biotech start-ups. "The agreement with Merck marks a significant move forward for the Israeli biotech industry, which for long has been one of our priority areas for further development," said Dr Eli Ofer, chief scientist at the Industry, Trade and Labor Ministry. Merck Serono, a division of Merck KGaA, which specializes in innovative prescription pharmaceuticals, will be signing an agreement today to join the Chief Scientist's research and development program for international cooperation between local start-ups and global companies. As part of the program, the Industry, Trade and Labor Ministry will finance half of the R&D costs of the companies joining the program through the Chief Scientist's Office. Under the terms of the agreement, Merck Serono will cooperate and assist select Israeli biotech companies in their R&D development and in marketing themselves worldwide. Over the next few days, the Chief Scientist's Office will advertise a call for proposals for Israeli biotech companies to cooperate with Merck. The R&D cooperation agreement that will be signed by Merck comes as part of this week's German business delegation trip to Israel, hosted by the Industry, Trade and Labor Ministry, the Israel Export Institute and Israel Manufacturers' Association. As part of their visit, senior executives of German companies, including Merck, Bayer, Siemens, Kaufhof and Man will be meeting with their counterparts in the local business community including Dov Lautman of Delta, Orna Berry of the IVA, Gad Proper of Osem, Sami Sagol of Keter, Makhteshim Agan, Israel Chemicals, Teva and Given Imaging. Bi-lateral trade between Germany and Israel rose 10 percent to $3.8 billion over the first three quarters of this year compared with the same period last year. Separately, recent press reports have said that Pfizer Pharmaceuticals, the world's largest non-generic drugmaker, is in advanced talks with the Industry, Trade and Labor Ministry to open its first local R&D center, to be located in the Galilee.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection


Cookie Settings