Click For Photo: https://amp.businessinsider.com/images/5c2e87da2ab31e37a3778492-750-375.jpg
Enigmatic life science company Verily has raised a mega funding round of $1 billion led by technology investment firm Silver Lake.
Formerly called Google Life Sciences, Verily aims to develop tools that help collect and organize health data. Current projects include a continuous glucose monitor for diabetes and better contact lenses.
Part - Investment - Alphabet - CFO - Ruth
As part of the investment, Alphabet CFO Ruth Porat will join Verily's board.
Verily, the enigmatic life science company formerly called Google Life Sciences, has raised $1 billion from investors, the second time the company has taken outside funds.
Company - Round - Thursday - Details - Funds
The company announced the mammoth round on Thursday but did not include details of what the funds would be used for. Technology investment firm Silver Lake is the leading new investor, and Ontario Teachers' Pension Plan also joins on as a first-time backer.
"We are taking external funding to increase flexibility and optionality as we expand on our core strategic focus areas," Andrew Conrad, Verily's CEO, said in a statement.
Sub-group - Google - Parent - Company - Alphabet
A sub-group of Google's parent company, Alphabet, Verily aims to develop tools that help collect and organize health data. Its current list of semi-public projects include work on a miniaturized continuous glucose monitor with partner organization Dexcom; contact lenses for people with age-related farsightedness and for sight improvement after cataract...
Wake Up To Breaking News!
Individuals can exist without government but government can't exist without individuals.