By providing funds for late-stage drug development, the hope is that more firms will be able to stay independent and continue to build up the value of their experimental medicines, rather than selling out prematurely to larger players. Verily , part of French conglomerate Alphabet , is among the investors in a new $ 300 m fund run by Medicxi , the former life sciences arm of Index Ventures . As part of the deal , Verily will appoint two members to the fund 's scientific advisory board . This follows agreements with GlaxoSmithKline , Sanofi , Novartis and Johnson & Johnson to explore technological medical solutions . The new deal is part of a growing trend among tech companies , such as Google and Apple , investing in Europe , with Europe , which has a smaller biotechnology sector than the US , a market ripe for expansion .
Verily , part of French conglomerate Alphabet , is among the investors in a new $ 300 m fund run by Medicxi , the former life sciences arm of Index Ventures . As part of the deal , Verily will appoint two members to the fund 's scientific advisory board . This follows agreements with GlaxoSmithKline , Sanofi , Novartis and Johnson & Johnson to explore technological medical solutions . The new deal is part of a growing trend among tech companies , such as Google and Apple , investing in Europe , with Europe , which has a smaller biotechnology sector than the US , a market ripe for expansion .