Campus Biotech S.A., Merck KGaA other news
A pair of billionaires made an undisclosed bid to purchase the former headquarters of Merck's Merck Serono biotech division in Geneva. Hansjorg Wyss, the founder of Synthes Inc., and Ernesto Bertarelli, the former CEO of Serono S.A, created Campus Biotech to make the offer and to head the site conversion of the complex, which was put on the market in July. If the offer is accepted, Campus Biotech will establish a newly formed Wyss Institute at the location to support the research activities of the Ecole Polytechnique Federale de Lausanne, the University of Geneva and other potential academic institutions. The Wyss Foundation will endow the project with initial capital of up to CHF125 million ($135 million) over six years, which would fund about 120-150 positions. The institute will focus on research areas that include neuroprosthetics and the regeneration of cardiovascular, muscular and neuromuscular tissue. Johnson & Johnson (NYSE:JNJ, New Brunswick, N.J.) acquired Synthes this year. ...