Maria Montero

The Life Science Tech unit of Google’s parent company …

Indeed, Alphabet’s life sciences division, on January 3 announced a $ 1 trillion investment round (approximately Rs 7,000 crore) led by private equity firm Silver Lake.

Alphabet CFO Ruth Porat and Silver Lake Managing Director Egon Durban will be nominated to Verily’s operating board, the company said.

Current members of the Verily board include CEO Andrew Conrad, Alphabet executives Larry Page, Sergey Brin and David Drummond and Temasek’s senior managing director, Fidah Alsagoff, a company spokeswoman said.

Google smart glasses program. Image: Google Verily website

The Ontario Teachers’ Pension Plan was among the new investors in the latest round.

Verily, formerly part of Google’s research and development unit, received an $ 800 million investment from Singapore’s state investor Temasek in 2017.

Verily said the new fund would support its investments, including potential acquisitions and partnerships, and would advance its strategies that are complementary to its current portfolio.

The company has linked several pharmaceutical companies on projects ranging from research on surgical robots to developing retinal scanning technology for early detection of some eye diseases.

Verily did not disclose the financial terms of the latest investment round.

Goldman Sachs and Co LLC acted as financial advisor to the company.

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