MSD, a New York-based research-intensive biopharmaceutical company, has launched IDEA Studios, a new initiative aiming to fund and collaborate with entrepreneurs and early-stage companies focused on delivering transformative healthcare solutions in Asia Pacific and Europe.
Led by MSD Global Health Innovation Fund (MGHIF) and MSD’s regional teams, IDEA Studio Asia Pacific and MSD IDEA Studio Europe will combine the parent company’s corporate venture arm with the deep healthcare expertise of its regional business teams.
MGHIF plans to invest US$38 million in the initiative across both regions over the next three years.
As part of these efforts, MSD business teams in the Asia Pacific and Europe will collaborate closely with MGHIF investors to select and fund local entrepreneurs.
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Based in Singapore, IDEA Studio Asia Pacific focuses on enhancing access to vaccinations and cancer therapies. On the other hand, the European unit, based in Berlin, aims to innovate in early disease diagnosis, improve medication adherence monitoring for patients and enhance clinical trial recruitment strategies.
Joseph Romanelli, President of MSD Human Health International said, “We are constantly seeking to apply digital and data science technologies to improve patient outcomes and help accelerate our purpose of saving and improving lives. 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.”
MGHIF is a growth investor partnering with innovative digital health and data science companies that facilitate and optimise biopharmaceutical operations to improve patient care. This investment strategy connects innovative companies with complementary technologies to develop integrated healthcare solutions.
MGHIF has US$500 million under management and provides growth capital to emerging healthcare technology companies worldwide. With a vision that data will be the currency in health care, GHIF invests broadly in digital health. MGHIF invests in platform companies with proven technologies or business models where MSD’s expertise and perspectives can accelerate revenue growth and enhance value creation.
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