Merck has extended the partnership with Weizmann Institute of Science, Rehovot, Israel, of by signing a new framework agreement, building on a successful innovation partnership of almost four decades.
Innovation was key for Merck’s now nearly 350 years of history and will play the same crucial role in the company’s future.
The new framework agreement on research collaboration and licensing was signed by Stefan Oschmann, Deputy CEO and Vice Chairman of the Executive Board of Merck, Belén Garijo, Member of the Executive Board of Merck and CEO Healthcare, Prof. Mudi Sheves, Vice President of Technology Transfer of the Weizmann Institute, and Amir Naiberg, CEO of Yeda, the commercial arm of the Weizmann Institute, at Weizmann’s site in Rehovot, Israel.
It will span the next three years, with an option for multiple successive extensions of two years each.
Oschmann said: “We have focused our healthcare research activities on the highly promising fields of immuno-oncology, immunology and oncology as we’re striving to deliver new solutions to respond to unmet medical needs.
“We’re excited that the new framework agreement will cover the first two of these three areas and are already looking forward to the proposals of the distinguished Weizmann scientists.”
As part of the new framework agreement Merck will fund each of the two research areas with up to € 1 million per year over the three-year period initially.
Sheves said: “We are proud that such a fruitful relationship like the one we have with Merck has now been extended and that we have the chance to take part in creating new innovative solutions in such critical fields that so many patients globally are suffering from.”