Merck, a German multinational chemical, pharmaceutical and life sciences company headquartered in Darmstadt, with around 50,000 employees in 70 countries, on Tuesday extended its partnership with the Weizmann Institute of Science in Rehovot, Israel, with a new framework agreement, building on a successful innovation partnership of almost four decades.
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, VPof Technology Transfer, and Mr. Amir Naiberg CEO of Yeda, the commercial arm of WIS, at Weizmann. The agreement will span the next three years, with an option for multiple successive extensions, two years each.
“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 need,” Oschmann said. “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 $1.12 million per year over the three-year period initially.
“We are proud that such a fruitful relationship like the one we have with Merck is now 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,” Sheves said after signing the contract.