VC fund manager AmorChem has launched AmorChem II, a $44.2m seed-stage life sciences fund backed by Merck & Co.

Canada-based venture capital fund manager AmorChem Group launched a seed-stage life sciences fund on Wednesday with $44.2m of capital from limited partners including pharmaceutical firm Merck & Co.

AmorChem II’s other limited partners include the Québec government and its capital development organisation, Fonds de solidarité FTQ. The fund will focus on investments in life sciences projects from universities and research centres in Québec, Canada.

AmorChem has managed biotechnology-focused VC funds since 1997 and has more than $350m in assets across five…