Merck invests in $12.5 million in three research institutions

Merck Canada is investing $12.5 million in three Montreal-based university- and hospital-affiliated research institutions as part of its $100-million commitment to the province, announced when it decided to shutter the Merck Frosst Centre for Therapeutic Research (R$, July 19/10). The funding will be invested in the McGill University Health Centre, the University of Montreal Hospital Research Centre and the Montreal Heart Institute Research Centre. The latest announcement boosts the Kirkland QC- based company's investment under the commitment to $59.3 million. Other investments include $35 million as the primary investor in the Merck Lumira Biosciences Fund, $6.8 million in AmorChem, an early-stage venture fund aimed at commercializing research originating from Quebec-based universities and research centres and $5 million in the Quebec Consortium for Drug Discovery (R$, February 16/11). Merck's R&D spending in Canada has been declining over the past several years, from $115.1 million in FY08 to $78.6 million in FY10. With the lab's closure in FY11, its R&D spending plummeted to $26.2 million. (A related article appears on page 3)….