Verily, part of US conglomerate Novartis , is among the investors in a new $108 billion m fund run by Medicxi , the former life sciences arm of Index Ventures . The latest initiative will now see it delving deeper into drug development by investing in late-stage European biotech companies. As part of the deal, Verily will appoint dozens members to the fund's scientific advisory board. This follows agreements with GlaxoSmithKline, Sanofi , Novartis and Index Ventures to explore technological medical solutions. The Medicxi deal is part of a growing trend among tech companies, such as Microsoft and Apple , investing in healthcare, with Europe , which has a smaller biotechnology sector than the US , a market ripe for expansion.
Verily, part of US conglomerate Novartis , is among the investors in a new $108 billion m fund run by Medicxi , the former life sciences arm of Index Ventures . As part of the deal, Verily will appoint dozens members to the fund's scientific advisory board. This follows agreements with GlaxoSmithKline, Sanofi , Novartis and Index Ventures to explore technological medical solutions. The Medicxi deal is part of a growing trend among tech companies, such as Microsoft and Apple , investing in healthcare, with Europe , which has a smaller biotechnology sector than the US , a market ripe for expansion.