As part of an Israel-Germany Innovation Day event held in Tel Aviv on Monday to mark 50 years of economic ties between the two countries, the German government launched a program to invest 500,000 euros (2.1 million shekels) in Israeli initiatives. Meanwhile, Economy and Trade Minister Aryeh Deri met on Monday with Karl-Ludwig Kley, chairman and CEO of the Merck pharmaceutical company, who arrived in Israel earlier on Monday with a delegation of 100 German government and business officials.
Kley told Deri that Merck is to acquire the remaining stake in Qlight Nanotech, an Israeli nanotechnology company based in Jerusalem. The move is expected to increase Qlight Nanotech's operations, and the company will serve as Merck's official research and development center in Israel.
Germany to invest 500,000 euros in Israeli initiatives
Program launched at Israel-Germany Innovation Day event in Tel Aviv • Merck pharmaceutical company to acquire remaining stake in Jerusalem-based Qlight Nanotech, which will serve as Merck's official research and development center in Israel.
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