Alphabet’s life science tech unit Verily raises $1 billion from investors
Alphabet’s life science tech unit Verily raises $1 billion from investors
The company has tied up with many pharma companies, from research on surgical robots to developing retinal scan techniques to detect some eye diseases.
In fact, the Department of Life Sciences of Alphabet Inc. announced on Thursday the $ 1 billion investment round under the leadership of private equity firm Silver Lake. The company's chief executive officer Ruth Porat and managing director of Silver Lake, Egon Durban will be nominated for Verily's operating board.
The company spokesman said members of Verily's current board include Chief Executive Andrew Conrad, Alphabet Executive Officer Larry Page, Sergey Brin and David Drummond and Temasek Senior Managing Director Fida Alsgof. The Ontario Pensioners' Pension Scheme was among the new investors in the latest round.
Verliy, who was previously part of Google's research and development unit, received $ 800 million in investment from Temasek, the state investor of Singapore in 2017. Verily said that the new fund will support its investment, which includes possible acquisitions and partnerships, and will push its strategies forward. Its current portfolio is complementary.
The company has tied up with many pharma companies, from research on surgical robots to developing retinal scan techniques to detect some eye diseases. Orally did not disclose the financial conditions of the latest investment rounds. Goldman Sachs and CO LLC worked as the company's financial adviser.
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Alphabet’s life science tech unit Verily raises $1 billion from investors
Reviewed by Tech Gyan
on
January 04, 2019
Rating:
Reviewed by Tech Gyan
on
January 04, 2019
Rating:
