MSD, a New York-based research-intensive biopharmaceutical company, has introduced IDEA Studios, a new program aimed at supporting and collaborating with entrepreneurs and early-stage companies dedicated to providing transformative healthcare solutions in Asia Pacific and Europe.
Managed by MSD Global Health Innovation Fund (MGHIF) and MSD’s regional teams, IDEA Studio Asia Pacific and MSD IDEA Studio Europe will merge the parent company’s corporate venture arm with the extensive healthcare knowledge of its regional business teams.
MGHIF is planning to invest US$38 million in the initiative across both regions over the next three years.
As part of this endeavor, MSD business teams in Asia Pacific and Europe will work closely with MGHIF investors to choose and support local entrepreneurs.
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Located in Singapore, IDEA Studio Asia Pacific will concentrate on improving access to vaccinations and cancer treatments. Conversely, the European division, headquartered in Berlin, aims to innovate in early disease detection, enhance patient medication adherence monitoring, and improve strategies for clinical trial recruitment.
Joseph Romanelli, President of MSD Human Health International, stated, “We are constantly exploring ways to utilize digital and data science technologies to enhance patient outcomes and help advance our mission of saving and enhancing lives. The launch of MSD IDEA Studios will provide entrepreneurs with the opportunity to leverage our extensive healthcare expertise to accelerate their impact and achieve meaningful innovations to benefit patients’ lives.”
MGHIF is an investment firm that partners with innovative digital health and data science companies to enhance and streamline biopharmaceutical operations for better patient care. This investment approach connects forward-thinking companies with complementary technologies to develop integrated healthcare solutions.
With US$500 million under management, MGHIF offers growth capital to emerging healthcare technology firms globally. With a vision of data becoming the currency in healthcare, GHIF invests broadly in digital health. MGHIF invests in platform companies with established technologies or business models where MSD’s knowledge and viewpoints can accelerate revenue growth and increase value creation.
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The article “MSD launches IDEA Studios to fund healthcare innovation in Asia, Europe” was first published on e27.