(photo credit: Courtesy)
The US pharmaceutical company Merck, known in Israel as MSD, signed a cooperation agreement on Wednesday with the Economy Ministry’s Chief Scientist, Avi Hasson, who is set to help the company find Israeli life-sciences firms to collaborate with on technological projects.
Once Merck chooses to collaborate with companies, the Chief Scientist’s Office will grant financial support for the R&D needed for the joint project. Merck will match the investment, with the aim either a financially investing in the company or developing equipment, personnel, technology, regulatory consulting and marketing.
This would result in Merck’s promoting the Israeli economy and opening up more foreign markets for Israeli firms.
Hasson said on Wednesday that MSD is the third global pharmaceutical manufacturer to join his office’s global enterprise R&D cooperation program. These collaborations, he explained, allow Israeli companies to conduct groundbreaking research and development that would not otherwise be possible.
“They also provide the industry in Israel with the opportunity to address the many challenges that exist in the field, as well as establishing its place in the global market,” he said.
MSD Israel CEO Sharon Alon said that “as a society that invests in developing life-saving medicines that impact the lives of millions of people around the world, we see Israel as a hotbed for innovation in medicine.
“The cooperation agreement with the chief scientist and the accompanying option of investing in Israeli companies is the direct result of MSD’s long-standing investment in clinical research, which includes the establishment of unique oncology research centers as well as the real-world evidence [pharmaceutical standard] in Israel.
We are proud to be able to contribute to the development of medical innovations in Israel,” she said.