Dec. 8 Quick Takes: Germany’s Merck pours another €600M into M Ventures

Merck KGaA (Xetra:MRK) said it has committed €600 million ($677.6 million) for corporate venture arm M Ventures to invest in start-ups over the next five years across the healthcare, life sciences, electronics and tech sectors. The evergreen fund is designed as both a strategic and financial investor, backing companies that align with the German pharma’s interests and represent partnering opportunities, as well as those that can deliver a financial return. Among its recent exits is mRNA company Translate Bio Inc., which Sanofi (Euronext:SAN; NASDAQ:SNY) acquired in a $3.2 billion August deal.

If FDA follows the unanimous recommendation of its Cardiovascular and Renal Drugs Advisory Committee, the agency will reject bardoxolone from Reata Pharmaceuticals Inc. (NASDAQ:RETA) after the panel concluded that the therapy’s benefits did not outweigh its risks in patients with chronic kidney disease caused by Alport syndrome. In documents released Monday, FDA’s reviewers wrote that the company’s NDA did not establish bardoxolone methyl’s efficacy at slowing the loss of kidney function in patients with Alport syndrome and reducing the risk of progression to kidney failure. In a statement, Reata Chairman, President and CEO Warren Huff expressed his disappointment with the outcome, adding that the company believes the evidence supports FDA approval and will be ready to address any questions the agency may have. Bardoxolone’s PDUFA date is Feb. 25, 2022. Reata shares fell 37% in after-hours trading to $34.25...