Life Sciences

Google’s Verily backs $300m European life sciences fund

Including a range of plastics, ceramics and metals like titanium with varying results

Google’s life sciences unit Verily has joined the backers of a new $300m investment fund that seeks to support late-stage drug development companies in Europe.

Verily, which is part of Google holding company Alphabet, has to date concentrated more on technology, working on healthcare data, devices and software with Sanofi and bioelectrics with GSK.

In contrast the Medicxi Growth 1 (MG1) fund will invest in private or public companies with at least one asset in phase II or beyond that has the potential to become a licensed pharmaceutical product.

Giuseppe Zocco, co-founder and partner at Medicxi, said: “This late-stage growth fund will support ambitious European entrepreneurs who are willing and able to build innovative companies through advanced clinical development and market entry, rather than pursuing a premature and generally suboptimal early exit through partnering or M&A.”

A new ecosystem of energy blockchain start-ups is emerging and venture capital, so far, has raised over US$1b to scale business models of the future.

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