MRL Ventures Fund is the corporate venture arm of Merck, focusing on seed and early-stage investments in therapeutic companies within the life sciences and healthcare sector. Their strategy involves providing capital, strategic guidance, and mentorship to innovative startups developing transformative medicines, while explicitly avoiding investments in medical devices, diagnostic platforms, or digital health.
82% of their portfolio is in Biotech & Life Sciences. Their most common stage is series-a (55% of deals). Average disclosed round size is $78.2M (across 11 rounds with reported amounts).
Portfolio
11
Fund Size
$500M
Top Stage
Series A
Last 12 Mo
0
Team
OD
Olga Danilchanka
Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
11 investments
| Company | Round | Amount | Date |
|---|---|---|---|
| PPAQ Therapeutics | Series B | $39M | May 2025 |
 ATB Therapeutics | Series A | $54M | Nov 2024 |
 Axonis Therapeutics | Series A | $115M | Oct 2024 |
 Aktis Oncology | Series B | $175M | Sep 2024 |
| Aktis Oncology | Series A | $84M | Aug 2022 |
 HotSpot Therapeutics, Inc. | Series C | $100M | Nov 2021 |
 Mozart Therapeutics, Inc. | Series A | $55M | Oct 2021 |
| HotSpot Therapeutics, Inc. | Series B | $65M | May 2020 |
 Kymera Therapeutics Inc. | Series B | $65M | Nov 2018 |
 Carisma Therapeutics Inc. | Series A | $53M | Jun 2018 |
 LifeMine Therapeutics | Series A | $55M | Sep 2017 |
Top Co-Investors
Sofinnova Partners4 shared
Alexandria Venture Investments3 shared
Solasta Ventures2 shared
Atlas Venture2 shared
ARCH Venture Partners2 shared
Cormorant Asset Management1 shared
venBio1 shared
Perceptive Advisors1 shared
SC Ventures1 shared
Tekla Capital Management1 shared
Bessemer Venture Partners1 shared
Pfizer Ventures1 shared
Sanofi Ventures1 shared
Aju IB1 shared
WuXi Healthcare Ventures1 shared
Foresite Capital1 shared
Boyu Capital1 shared
Blue Pool Capital1 shared
RA Capital Management1 shared
RTW Investments1 shared
Last updated: 10 May 2026