Merck Serono's earnest money

Four years after launching a strategic venture fund, the Merck Serono S.A. unit of Merck KGaA is making a long-term commitment with an infusion of €60 million ($77.8 million).

While the fund's focus will remain on seed and series A deals, the cash injection will enable later-stage investments, with a proviso - an asset must be sufficiently differentiated and fit Merck Serono's focus in cancer, neurodegenerative, immunology, endocrinology and fertility indications...