The New Jersey headquartered American pharmaceutical company, MSD is planning to invest $38 million in startups and early-stage companies involved in delivering innovative healthcare solutions from the Europe and Asia Pacific regions over the next three years through its MSD’s Global Health Innovation Fund (MGHIF). The company has launched IDEA Studios, an entity that will identify, fund, and collaborate with target entrepreneurs and companies. IDEA Studios will be in Berlin and Singapore and will act as innovation hubs for the Asia Pacific and European regions.
As per Joseph Romanelli, President, MSD Human Health International, “The launch of MSD IDEA Studios will offer entrepreneurs the opportunity to leverage our deep healthcare expertise to accelerate their impact and achieve meaningful innovation to improve patients’ lives.” He further added; “We aim to fuel innovative solutions through strategic investments that will ultimately enable better access to medicines and vaccines for patients.”
MSD IDEA Studio Asia Pacific is seeking opportunities to fund and partner with entrepreneurs and early-stage companies across the region. The area of initial interest includes innovative solutions to improving access to vaccinations and cancer therapies. The IDEA Studio will combine MSD’s corporate venture arm with the healthcare expertise of its regional business teams. The MSD IDEA Studio Europe will focus on ways to diagnose disease earlier, monitor patients to enhance medication adherence and enhance clinical trial recruitment.
Rehan A Khan, Managing Director, MSD India Region said; “The Indian startup ecosystem has been thriving, and MSD is looking to collaborate with Indian startups to improve patient care. Indian startups are demonstrating remarkable ingenuity and entrepreneurial spirit, which has the potential to revolutionize patient care globally.”
