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. LONDON (Reuters) - The fund, which will invest in companies that are developing drugs to treat diseases such as cancer, Alzheimer’s and diabetes, has been set up with an initial investment from the venture capital firm Andreessen Horow@@ 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.
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. The fund, which will invest in companies that are developing drugs to treat diseases such as cancer, Alzheimer’s and diabetes, has been set up with an initial investment from the venture capital firm Andreessen Horow@@ 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.