Merck Serono is embarking on a €65 million ($73.5 million) R&D expansion at its headquarters in Darmstadt, Germany. The investment will fund the construction of a building to house different units of its drug discovery operation, enabling an all-under-one-roof approach Merck Serono is hoping will improve its fortunes.
The biotech arm of Merck KGaA is building a 16,000-square-meter addition to accommodate 200 research staffers, noting that the facility should be ready in 2017.
China's BeiGene said it has completed financing of more than CNY450 million ($75 million) from initial angel and strategic investors as well as new investors Hillhouse Capital and CITIC PE, joined by an unnamed "blue chip U.S. public investment fund" specializing in life sciences.
Cancer diagnostics has long been defined by the aim of providing "personalized" and "precision" medicine to patients. But now the buzzword of the moment seems to be trending more toward "universal"--as the industry strives for an all-encompassing test that will mete out the best possible individual treatment protocols based on genomic data.
An investment fund backed by the megarich family that founded Serono has proposed merging Stallergenes and Greer. The fund is well placed to make such a deal happen: It has a 77.3% stake in Stallergenes and owns Greer outright.
Prexton Therapeutics, the first company to emerge from the €30 million ($34 million) biotech-creation program Merck Serono set up amid the shuttering of its Geneva R&D center, has closed a Series A round.
Merck Serono is teaming up with London's Institute of Cancer Research and the charitable Wellcome Trust to identify and develop new inhibitors to treat cancer.
Looking to share some of the spotlight focused on the immuno-oncology arena, Merck Serono says it has launched a mid-stage study of MSB0010718C, an anti-PD-L1 antibody.
Merck KGaA last year closed manufacturing facilities as part of a major restructuring to cut costs. This year it is planning to build them to serve areas that it has decided have the greatest potential as well as expected growth in emerging markets.
Merck KGaA is still crawling through a broad restructuring effort, but the German drugmaker said it's keeping an eye out for major deals that could help it piece together a promising pipeline after years of setbacks.