Verily Life Sciences LLC, a health sciences company spun off from Alphabet Inc., has raised $1 billion in a round led by Alphabet to help expand its precision medicine-focused business.

Founded in 2015 from Google X’s Life Sciences group, Verily’s aims to bring the promise of precision health to everyone, every day. The company focuses on processing and using data from a variety of sources, including clinical, social, behavioral and real-world to arrive at the best solutions for humans based on a comprehensive view of the evidence. .

Verily uses a data-driven, people-first approach to change the way people manage and deliver health care, using data science and technology to deliver better health outcomes .

One of Verily’s best-known products is Baseline, a service designed to make it easier for individuals to participate in clinical research. Baselines are used in various medical projects, including testing initiatives for COVID-19.

The new funds will be used to support various major initiatives. These include real-world evidence generation, healthcare data platforms, research and care, and the underlying technologies that power this work to improve healthcare outcomes for individuals. Verily said it would also consider further investments in strategic partnerships, global business development and potential acquisitions.

In addition to announcing the funding, Verily said founder Andy Conrad will become executive chairman of Verily’s board of directors, and current president Stephen Gillett will be promoted to chief executive officer effective January 2023.

Gillet joined Google LLC in 2015 and served as Resident Director of Google Ventures. In 2016 she moved to Google X (now X) where he was CEO of Chronicle, Alphabet’s cybersecurity company. In 2020 he joined Verily as Chief Operating Officer.

“These new positions are the result of thoughtful succession planning led by Conrad and the Board of Directors, and will position Verily as a more operationally and commercially focused company that executes on its precise health strategy. It’s a recognition of the skills and experience required to lead,” said Verily. statement.

Including new funding, Verily has raised $3.5 billion to date, including $700 million in December 2020 and $1 billion in 2019, according to Crunchbase. Third-party investors include Temasek Holdings, Silver Lake and Ontario Teachers’ Pension Plan.

Photo: Verily