Jan 4, 2019

Alphabet's life sciences unit raises $1 billion

Dan Primack

Illustration: Rebecca Zisser, Axios

Verily, a life sciences research and engineering organization formed by Google parent Alphabet, announced Thursday that it has raised $1 billion in new equity funding from Silver Lake, Ontario Teachers’ Pension Plan and "other global investment management firms."

Why it's a big deal: Because it suggests that Alphabet is open to eventually spinning Verily out as an independent company.

  • Silver Lake's Egon Durban will join Verily's operating board, as will Alphabet CFO Ruth Porat.
  • This is the second time Verily has raised outside money, following an $800 million infusion in early 2017 from Singapore sovereign fund Temasek.
  • Alphabet will not disclose its currently ownership percentage.

More from CNBC's Christina Farr: "Verily, formerly known as Google Life Sciences, has a number of partnerships across the health and life sciences sector in areas ranging from diabetes management to surgical robotics. The company often provides the technical talent, while its counterparts in health care bring in expertise on clinical research and regulation."

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 1:30 p.m. ET: 1,506,936 — Total deaths: 90,057 — Total recoveries: 340,112 — Map.
  2. U.S.: Total confirmed cases as of 1:30 p.m. ET: 432,596 — Total deaths: 14,831 — Total recoveries: 24,235 — Map.
  3. Business latest: The Fed will lend up to $2.3 trillion for businesses, state and city governments — Another 6.6 million jobless claims were filed last week.
  4. Federal government latest: President Trump is preparing to launch a second coronavirus task force focused on reviving the U.S. economy.
  5. Public health latest: Dr. Anthony Fauci said social distancing could reduce the U.S. death toll to 60,000.
  6. States latest: New York's coronavirus death toll hits record high for third straight day.
  7. 🎧 Podcast: Your hydroxychloroquine questions answered.
  8. What should I do? Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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