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Vikram Bajaj is moving to a venture capital firm. Photo: Foresite Capital.

Vikram Bajaj, the former co-founder of Google life sciences startup Verily and chief scientific officer of cancer biotech company Grail, has joined Foresite Capital as a managing director. Foresite is a venture capital and private equity firm that invests in health care companies.

Looking ahead: Bajaj will help identify companies that personalize medicine and treatment based on people's individual genetic code. Jim Tananbaum, Foresite's CEO, told Axios that hiring Bajaj and others is about expanding the scope of investable companies. "The world is going to favor the superior product, clinically, and the product that reduces costs to the system," Tananbaum said.

Go deeper

Chauvin trial leaves cities, activists across America on edge

Illustration: Brendan Lynch/Axios

The impact of the Derek Chauvin trial is reverberating far beyond the walls of the downtown Minneapolis courtroom.

The state of play: With the trial set to enter its third week, activists across America are watching the proceedings unfold with heavy skepticism that what they perceive as justice will be served.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

The dispiriting housing boom

Illustration: Sarah Grillo/Axios

It's a discouraging scene: Bidding wars, soaring prices, and fears that homeownership is becoming out of reach for millions of Americans. We're in a housing frenzy, driven by a massive shortage of inventory — and no one seems to be happy about it.

Why it matters: Not all bubbles burst. Real estate, in particular, tends to rise in value much more easily than it falls. Besides, says National Association of Realtors chief economist Lawrence Yun, this "is not a bubble. It is simply lack of supply."

Updated 6 hours ago - World

China's COVID vaccines have low efficacy rates, official says

China Centers for Disease Control director Gao Fu at a March event in Beijing, China. Photo: Han Haidan/China News Service via Getty Images

The Chinese Center for Disease Control and Prevention's director said Saturday authorities are considering mixing COVID-19 vaccines because the country's domestically made doses "don't have very high protection rates," per AP.

Why it matters: The remarks by the Gao Fu at a news conference in the southwestern city of Chengdumark mark the first time a Chinese health official has spoken publicly about the low efficacy of vaccines made in China.

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