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Wednesday, July 24, 2024

MSD launches Global Health Innovation Fund IDEA Studios to fuel healthcare innovation

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MSD recently announced today the launch of its Global Health Innovation Fund (GHIF) IDEA Studios, a new initiative established to fund and collaborate with entrepreneurs and early-stage companies focused on delivering transformative healthcare solutions.

Announced at the HLTH Europe conference, MSD IDEA Studio Asia Pacific and MSD IDEA Studio Europe will unite the company’s industry-leading corporate venture arm with the deep healthcare expertise of its regional business teams.

Strategically located in the vibrant biotech hubs of Singapore and Berlin, respectively, the IDEA Studios will create an entrepreneurial environment and facilitate the cross-pollination of ideas to foster breakthrough innovation.

“At MSD, 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,” said Joseph Romanelli, President of 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.”

As part of these efforts, MSD business teams in Asia Pacific and Europe will collaborate closely with GHIF portfolio managers to select and fund local entrepreneurs who are developing innovative healthcare solutions designed to enhance and improve patients’ lives.

The GHIF plans to invest US $38 million across both regions during the next three years. Key areas of interest within IDEA Studio Asia Pacific include access to vaccinations and cancer therapies. MSD IDEA Studio Europe will look for innovative ways to diagnose disease earlier, monitor patients to enhance medication adherence, and enhance clinical trial recruitment.

“We are excited to build on GHIF’s track record of growth investing to collaborate with our colleagues in the Asia Pacific and European regions via the MSD IDEA Studio,” said Joel Krikston, Managing Director Venture Investments, GHIF. “We aim to fuel innovative solutions through strategic investments that will ultimately enable better access to our medicines and vaccines.”

“We are looking forward to the impact this collaboration could bring to health care in the Philippines, through the enablement of entrepreneurs in delivering innovative patient-centered solutions, addressing some of the most pressing challenges, including cancer and vaccine-preventable diseases,” said Andreas Riedel, Managing Director, MSD in the Philippines.

Those interested in learning more about the IDEA Studios or wishing to apply can visit: https://www.msdideastudio.com

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