Generic competition, health care reforms, price pressure, increasing regulatory requirements placed on safety, and health technology assessments of new drugs are some of the trends that are posing challenges in the pharmaceutical R&D environment. We want to ensure sustainable success despite rapidly changing framework conditions. Essential elements of this strategy include focusing on specialist indications with high unmet medical needs, rigorously implementing treatment options adapted to specific patient groups (patient stratification) in order to predict the efficacy of therapies in individual patients, and cooperating with partners. We further expanded our network of alliances in 2010.
In R&D, we continue to build on our expertise in both small molecules and biopharmaceuticals. We are also investigating potentially new compound classes that could lead to innovative therapies. For example, we entered into a partnership with the Belgian company Ablynx to co-discover and co-develop Nanobodies® for use in the area of rheumatology. Nanobodies® are an innovative class of antibody-derived therapeutic proteins that combine the advantages of conventional antibodies with key properties of small molecule drugs.
In the field of neurodegenerative diseases, we formed an exclusive partnership with Fast Forward— a subsidiary of the American National Multiple Sclerosis Society. In 2010, we gave grants to four recipients. The funding, which will initially amount to nearly USD 1.5 million, will be used to advance innovative multiple sclerosis research projects in the United States, New Zealand, and the United Kingdom. In addition, we entered into a strategic cooperation with the Institute for Experimental Neurology (INSPE) and the Department of Neurology at the San Raffaele Scientific Institute in Milan, Italy. The aim of the cooperation is to advance clinical research projects in the field of neurodegenerative diseases using new models and technologies.
Merck Serono Ventures is the name of our corporate venture capital fund. In 2010, the fund invested in two highly innovative biotech companies. One of the companies is f-Star from Vienna, Austria, which is engaged in the discovery and development of modified antibodies. The most recent investment was made in Auxogyn of San Francisco. This company is developing a non-invasive tool for early assessment of embryo viability within the scope of in vitro fertilization procedures.
Additionally, internal cooperation with Merck Millipore is creating new prospects. Potential synergies exist in areas such as companion diagnostics, systems biology, new biopharmaceutical drug delivery methods, and in the search for new routes in biopharmaceutical production.