Alphabet is putting money into the research of life sciences through the company’s division of health-technology Verily and its division of investment GV. Both Verily and GV would be working together with Verve Therapeutics which is a start-up with a goal of reducing heart disease’s risk in people. Verve is developing a treatment which would be injectable so that people would not have to depend on the daily routine of pills.
Verve is representing for Alphabet a path for revenue in its important project hatched in X which is the lab of research and development. It used to be the home to self-driving cars of Waymo, cyber security project Chronicle and delivery drones of Wing. Under Alphabet, Verily became a self-governing company in 2016 and in 2018 Verily raised $1 billion as capital during funding by Silver Lake, an equity firm. Most of the company’s projects would begin to feel the pressure for commercializing its technology for producing a return. The chief financial officer of Alphabet Ruth Porat has come on board of Verily during the deal of Silver Lake. Verily had announced its partnership with Verve the previous week along with financing worth $60 million, which was majorly from GV.
In its initial days, the company was called Google Life Sciences. Its projects focused on tiny particles which can be used to make treatment through drugs more targeted. There were many scientists and engineers who were working on Google’s technology for several years. The chief medical officer of Verily Dr. Jessica Mega said that it was the earliest programs of Google Life Sciences at a time when it was Google X’s part. She added that although Alphabet is known for its online advertising, the company can still do basic science and they are in a good position for it.