Merck Serono and BioMed X extend oncology collaboration

Germany-based BioMed X Innovation Center has extended its collaboration with Merck Serono, the biopharmaceuticals business of Merck KGaA (MRK: DE), on new approaches for cancer therapy.

Based on the results presented at the biannual meeting on July 10 in Heidelberg, Germany, Merck Serono decided to extend the funding of the first two international research groups for a third year. Financial terms were not revealed.

BioMed X and Merck have jointly developed a unique innovation model which combines a crowdsourcing approach with local incubation of the brightest ideas and research talents. Merck became the first partner of the BioMed X in 2013 (The Pharma Letter April 3, 2013) by setting up three research groups at the interface between academia and industry in its biomedical research lab in Heidelberg. BioMed X's open innovation lab is located on the life science campus of the University of Heidelberg which provides an inspiring, interdisciplinary environment for project teams.

Progress already achieved

"We are impressed with the progress achieved by the teams since the start of the projects two years ago. It is great to see that the new open innovation concept we have developed works so well in practice," said Ulrich Betz, head of Innovation & Entrepreneurship Incubator Merck Serono.