Merck Serono sets up Prexton Therapeutics as first spin-off from its Entrepreneur Partnership Program

Merck Serono, a division of Germany’s Merck KGaA (MRK: DE), has created Prexton Therapeutics, the first spin-off company resulting from its Entrepreneur Partnership Program launched in April 2012. Prexton Therapeutics will be formed around Merck Serono's R&D portfolio in the field of Parkinson's disease and will focus on programs that target the metabotropic glutamate receptors mGluR3 and mGluR4.

"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 [Switzerland] area but also unique expertise," said François Naef, chairman of the Merck Serono  board of directors, adding: "The newly founded company will be headed by a highly experienced scientist and entrepreneur, which gives us a lot of confidence in the success of Prexton Therapeutics." Merck recently announced significant restructuring and likely job losses at Merck Serono, which was formed following Merck’s acquisition of Swiss biotech firm Serono for 10.6 billion euros ($13.1 billion at current exchange rates) in 2007 (The Pharma Letter April 24).

With a team composed of seasoned Merck Serono scientists with long-standing experience in neurology and a significant portfolio of chemical compounds stemming from Merck Serono's preclinical research, Prexton Therapeutics will be well positioned in the field of neurodegenerative diseases.