BERLIN (dpa-AFX) - Merck Serono, a division of Merck, Darmstadt, Germany, and Compugen Ltd. (CGEN) announced the joint establishment of Neviah Genomics, a novel start-up company focused on the discovery and development of novel biomarkers for the prediction of drug-induced toxicity. Neviah Genomics would be operating out of the Merck Serono Israel Bioincubator. Merck Serono Ventures would provide the initial funding for Neviah Genomics.
Compugen would use certain proprietary predictive discovery technologies and receive an equity ownership in the new company and a right to royalties from potential future sales. Financial details of the deal were not disclosed.
Neviah Genomics would benefit from Compugen's sophisticated proprietary computational discovery platforms to develop advanced toxicogenomics diagnostic tests. Developed tests would be used for the prediction of drug-induced toxicity and integrated into a biomarker platform to support the prioritization and development of drug product candidates.
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