Merck invests $40M in Lumira funds

Merck & Co. Inc. (NYSE:MRK) invested $40 million across two life science funds managed by Lumira Capital, including $35 million to help launch the Merck Lumira Biosciences Fund. The fund, which raised $43 million in its first close, will invest in early stage biotech companies in Quebec. Teralys Capital and other partners also participated in the fund, which has a target of $50 million. Merck will not have any rights to portfolio companies or their products. ...