Flagship Ventures, a venture capital firm focused on healthcare and sustainability, has partnered with Merck Research Laboratories (MRL) and its newly formed Merck Research Ventures Fund to back new ventures that apply scientific breakthroughs to the development of new drugs in areas of unmet medical need.

Through the alliance, MRL will gain exposure to the investment and venture creation model that Flagship Ventures has applied over the last decade to successfully translate scientific innovation into medical breakthroughs. This partnership will also provide Flagship direct access to a global pharmaceutical industry leader with deep insight into pharmaceutical development, commercialization and regulation.

"Disruptive innovations increasingly derive from collaborations that can connect market insights, development expertise and scientific/technological breakthroughs," said Noubar Afeyan, managing partner and CEO of Flagship Ventures. "We are very excited that Merck is joining our growing network of academic and industry partners that support our firm and community of over 35 life science ventures."

As part of the collaboration, Merck Research Ventures Fund became an investor in Flagship Ventures Fund IV L.P., a $270 million oversubscribed venture capital fund closed in January 2012.