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.
Verily, part of US conglomerate Alphabet, is among the investors in a new $300m 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 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.