Merck Contributes $35 million to Merck Lumira Biosciences Fund in Quebec

OTTAWA, March 27, 2012 /PRNewswire/ - Rx&D President Russell Williams made the following statement today about the Merck Lumira Biosciences Fund, which will fuel future pharmaceutical innovation in Quebec.

"Today's investment announcement by Merck Canada demonstrates the research-based pharmaceutical industry's commitment to strengthening the life-sciences sector in Quebec. This new fund launched by Merck Canada, Lumira Capital, Teralys Capital and other partners will support early stage biotechnology companies and attract more life science investors to the province.

"The Merck Lumira Biosciences Fund is a perfect example of how our industry, government and academia can collaborate to strengthen life sciences research. This new fund will help to position Quebec as a leader in developing and delivering new health care solutions to people across Canada and throughout the world."

About Rx&D
Rx&D is the association of leading research-based pharmaceutical companies dedicated to improving the health of Canadians through the discovery and development of new medicines and vaccines. Our community represents 15,000 men and women working for 50 member companies and invests more than $1 billion in research and development each year to fuel Canada's knowledge-based economy. Guided by our Code of Ethical Practices, our membership is committed to working in partnership with governments, healthcare professionals and stakeholders in a highly ethical manner.

SOURCE CANADA'S RESEARCH-BASED PHARMACEUTICAL COMPANIES (RX&D)