By Cecilia Butini

Bayer AG said Friday that it would invest more than 1.3 billion euros ($1.44 billion) in its impact investment unit Leaps by Bayer over the next three years as it seeks to drive innovation in the life sciences domain.

The German pharmaceutical and agricultural company said it has already invested more than EUR1.3 billion over the past seven years in more than 50 companies that focus on innovation in health and agriculture.

According to Bayer, "a forthcoming wave of innovations will open new opportunities in next-generation healthcare and [provide] farming solutions to make agriculture more sustainable and less resource intensive." Chief Executive Werner Baumann said that Bayer would step up its efforts in order to be a driver of this innovation.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

April 01, 2022 07:33 ET (11:33 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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