Merck Extends Pact with Weizmann Institute
Germany’s Merck KGaA has signed a new framework agreement with Israel’s Weizmann Institute of Science, extending their partnership for another three years with the option for multiple successive extensions of two years each.
Stefan Oschmann, deputy CEO and vice chairman of Merck’s executive board, said the company has focused its healthcare research on the highly promising fields of immuno-oncology, immunology and oncology in response to unmet medical needs.
As part of the agreement on research collaboration and licensing, Merck will initially fund each of the first two research areas with up to €1 million per year over the three-year period.
Merck’s link with the Weizmann Institute dates back to 1978. The company has sites in Yavne, Herzliya, Rehovot and Jerusalem in Israel where the main focus of its activities is the manufacture of biotechnology products for the life science market, research and development for the healthcare sector and materials development for display applications.
Parallel to the signing, the Weizmann Institute presented its Weizmann Award in the Life Sciences and Humanities to Merck’s CEO Karl-Ludwig Kley in recognition of his support and friendship with Israel and with the Institute. Daniel Zajfman, president of the Institute, praised Kley for spearheading and advancing the mutual technology transfer relationship.