Merck Serono launches IT services spin-off TQM Insight

Merck Serono has announced the launch of a new spin-off company called TQM Insight through its Entrepreneur Partnership Programme.

The new organisation will offer governance services and products with a focus on IT for organisations in regulated industries, including the pharmaceutical, chemical and banking sectors.

Merck Serono will commit to contracts worth more than 1.8 million euros (1.49 million pounds) over the next 18 months and become TQM Insight's first client, while it will also consider the new firm as a preferred business partner for future projects.

The business will initially employ six people and be led by Gary Price, the former corporate director of IT governance at Merck Serono.

Frederic Wohlwend, group chief information officer of Merck Serono, said: "The formation of TQM Insight allows our former employees to capitalise on their experience at Merck Serono to start a unique and promising business in IT governance."

A total of four spin-offs have now been created through the Entrepreneur Partnership Programme, including Prexton Therapeutics, Quartz Bio and Asceneuron.