Compugen (CGEN), Merck Serono Form Biomarker Start-Up Company, Neviah Genomics
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Merck Serono, a division of Merck, Darmstadt, Germany, and Compugen Ltd. (NASDAQ: CGEN) today announced the 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 will be operating out of the Merck Serono Israel Bioincubator. Merck Serono Ventures will provide the initial funding for Neviah Genomics. Compugen will utilize certain proprietary predictive discovery technologies and receive an equity ownership in the new company and a right to royalties from potential future sales. Further financial details of the agreement were not disclosed.
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