Jan 4, 2019

Alphabet's life sciences unit raises $1 billion

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: 340,112Map.
  2. U.S.: Total confirmed cases as of 1:30 p.m. ET: 432,596 — Total deaths: 14,831 — Total recoveries: 24,235Map.
  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 healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&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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Trump plans second coronavirus task force focused on the economy

Photo: Mandel Ngan/AFP via Getty Images

President Trump is preparing to launch a second coronavirus task force focused on reviving the U.S. economy, which has been battered by the coronavirus, two administration officials tell Axios.

Why it matters: There is growing energy within the West Wing to start easing people back to work by May 1. But some public health officials, including those on the coronavirus task force, have warned against doing so, raising concerns about reopening America too soon.

New York's coronavirus death toll hits record high for third straight day

799 people died from coronavirus in New York over the past 24 hours, a record high for the third straight day that brings the state's total death toll to 7,067.

Why it matters: Gov. Andrew Cuomo said at a press conference that social distancing is helping to "flatten the curve" of coronavirus hospitalizations and that deaths are a lagging indicator. Still, he called the death figures "shocking and painful," noting that the virus has killed more than double the number of people who died in New York on 9/11.

Go deeperArrow2 hours ago - Health