Amorchem plans to invest in promising Quebec research initiatives and technologies in the life sciences to give them the necessary resources to advance research projects toward licensing or commercialization. It will also create opportunities to keep talented researchers in Quebec, including seven former employees of Merck Canada.

"Amorchem brings an exciting new model for life science seed investments in Quebec. We will fund very early-stage therapeutic, diagnostic and medical device projects in order to rapidly reap the commercial benefits of the bustling academic R&D going on in the province. By focusing on value creation rather than forming companies, we hope to foster innovation at a lower cost," said Louis Lacasse, President of AmorChem.

Last month, Merck announced a new $5 million investment in the Quebec Consortium for Drug Discovery (CQDM), another major organization supporting early-stage biopharmaceutical research in Quebec.

Source: MERCK