Merck KGaA /zigman2/quotes/206962101/delayed MKKGY +2.09% /zigman2/quotes/209909728/delayed XE:MRK +2.42% said Wednesday it will invest an additional 600 million euros (about $680 million) into its corporate venture capital arm M Ventures over the next five years. That's the third increase in financial commitment announced by the Germany-based science and technology company since M Ventures' inception in 2009. "Over the past decade, M Ventures has established itself globally as a leading partner to the biotech and tech venture ecosystems," said Merck KGaA Chief Executive Belén Garijo.
This replaces an earlier item that incorrectly reported the company making the investment in M Ventures. It has been corrected.