Merck Serono, part of Germany-based pharmaceutical company Merck, has opened a technology incubator in Israel.

Merck Serono has committed to investing at least €10m ($13m) by 2018, according to Merck Serono’s website.

Merck Serono added: "The bioincubator offers both seed financing and access to dedicated, state-of-the-art laboratory facilities within Inter-Lab, Merck Serono’s Israel-based research and development center."

Roel Bulthuis, head of Merck Serono Ventures, said: "The Merck Serono Israel BioIncubator Fund is managed by Merck Serono Ventures and indeed part of our overall strategy to access external innovation."

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