Merck Serono CEO stakes out Boston biotech startups

Merck Serono's CEO, Stephan Oschmann, has made overtures to biotech entrepreneurs as the pharma group seeks ways to bolster its business after a series of R&D setbacks, like the failure of an experimental oral drug for multiple sclerosis, and major layoffs and cutbacks in Geneva, Switzerland. As The Boston Globe reported, the Merck Serono chief pitched his company's expertise and capital to members of the life sciences scene in a small meeting in Cambridge, MA. His message comes on the heels of Merck Serono's commitment to increase the capacity of its venture investments from $51.4 million to $128.6 million, with a designated VC unit called MS Ventures to stake out deals with biotech companies. Article