Explore Bio, the pre-seed-investment vehicle aims at investments as well as management services for proof-of-concept-experiments in biotechnology. The early-stage companies benefiting from the initiative will also be given the opportunity to work at Merck’s Bio Incubator facilities in Israel.
Darmstadt/Germany – Merck, a leading science and technology company has recently announced Explore Bio, a pre-seed-investment vehicle by four investment funds targeted at early-stage companies in the biotechnology landscape in Israel. For this purpose the strategic corporate venture capital arm of Merck has partnered with Arkin Holdings, Pontifax and Wuxi App Tec to create the 25 million dollar pre-seed investment vehicle.
Explore Bio is an initiative comprising pre-seed investments and management services for proof-of-concept-experiments in biotechnology. Additionally, companies benefiting from the Explore Bio initiative will be given the opportunity to work at Merck’s Bio Incubator facilities in Yavne, Israel.
The commitment involves a total volume of 25 million dollars for five years. Explore Bio aims to invest 1.25 million dollars to 2 million dollars per company and up to four investments per year over a period of five years. The early-stage companies would benefit from quick access to funding and easy access to follow-up capital.