WuXi AppTec, Merck to Form Life Science Incubator
A subsidiary of Merck KGaA, Merck Serono, is now teaming up with major China CRO/CMO, WuXi AppTec, to launch an Israeli science incubator.
Israel-born businessman Mori Arkin and life sciences-focused venture capital fund Pontifax Ltd. will also be part of the venture.
The incubator will be located at Merck Serono’s current facilities in Yavne, a town in central Israel. The companies will be joined by Israeli businessman Mori Arkin.
The incubator, named “Explore Bio,” is already considering several companies, with initial investments estimated at several million dollars apiece. In addition to funding, the incubator will assist with drug development, provide feasibility and market demand assessments, and offer early-stage mentoring. The incubator will not rely on government support, but will be funded entirely by the partners. Currently, there is no upper limit to the number of participating companies.
