Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Tech
Powered by cricketnext logo
»
1-min read

Alphabet's Life Science Tech Unit Verily Raises $1 Billion From Investors

Alphabet Chief Financial Officer Ruth Porat and Silver Lake Managing Director Egon Durban will be nominated to Verily's operating board, the company said.

Reuters

Updated:January 4, 2019, 10:55 AM IST
facebookTwitterskypewhatsapp
Alphabet's Life Science Tech Unit Verily Raises $1 Billion From Investors
Alphabet's Life Science Tech Unit Verily Raises $1 Billion From Investors (image: Reuters Pictures)
Loading...

Verily, Alphabet Inc's life sciences division, on Thursday announced a $1 billion investment round led by private equity firm Silver Lake. Alphabet Chief Financial Officer Ruth Porat and Silver Lake Managing Director Egon Durban will be nominated to Verily's operating board, the company said. Verily's existing board members include Chief Executive Andrew Conrad, Alphabet executives Larry Page, Sergey Brin and David Drummond and Temasek senior managing director Fidah Alsagoff, a company spokeswoman said.

Ontario Teachers' Pension Plan was among the new investors in the latest round. Verily, which was previously part of Google's research and development unit, received an $800 million investment from Singapore state investor Temasek in 2017. Verily said the new fund would support its investments, including in potential acquisitions and partnerships, and would advance its strategies that are complementary to its current portfolio.

The company has tied up with several pharma companies on projects that range from research on surgical robots to developing the retina scan 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 adviser to the company.

| Edited by: ---
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results