Verily

Last updated

Verily Life Sciences LLC
FormerlyGoogle Life Sciences
Company type Subsidiary
Industry
FoundedDecember 7, 2015;9 years ago (2015-12-07)
Headquarters Dallas, Texas
Key people
 Stephen Gillett (CEO)
RevenueUS$559 million (2022)
−US$568 million (2022)
Owner Google Inc. (until 2015)
Alphabet Inc. (2015–present)
Number of employees
c. 1,100 (2023)
Parent Alphabet Inc.
Subsidiaries Lift Labs
Website verily.com
Footnotes /references
[1]

Verily Life Sciences LLC, [2] also known as Verily (formerly Google Life Sciences), is Alphabet Inc.'s research organization devoted to the study of life sciences. [3] [4] The organization was formerly a division of Google X, until August 10, 2015, when Sergey Brin announced that the organization would become an independent subsidiary of Alphabet Inc. [5] with restructuring completed on October 2, 2015. On December 7, 2015, Google Life Sciences was renamed Verily. [6] [7]

Contents

Early Researchers

At the time of Verily's formation in 2015, the members of the research team that contributed to the founding patent portfolio include: [8]

History

On 9 September 2014, the division acquired Lift Labs, the makers of Liftware. [9]

Verily Life Sciences in January 2019 raised $1 billion in funding.

At the end of 2019, Verily sold its stake in robot-assisted surgery joint venture Verb Surgical to development partner Johnson & Johnson. [10]

In August 2020, Verily announced that it is entering into the insurance market with the launch of Coefficient Insurance Company. The new subsidiary will be backed by Swiss Re Group's commercial insurance unit. [11]

In September 2022, Verily announced longtime CEO Andy Conrad would step down as CEO in January 2023, to be replaced by Stephen Gillett [12] who became CEO on January 3, 2023. [13]

In January 2023, fifteen percent of Verily's workforce was laid off as part of a broader restructuring by parent company, Alphabet. [14] The Information reported in August that Gillett had told employees they would stop relying on Alphabet on "a wide range of corporate services", signaling a potential spin-out as an independent company. [15]

In June 2024, Verily decided to close its operations in Israel three years after opening a research and development center in the country. Verily staff in Israel are expected to leave by the third quarter of 2024. The company cited an effort to refocus its strategy on core products and projects as the reason for the closure. [16]

In August 2024, Verily moved its headquarters from South San Francisco to Dallas citing significant investment and involvement in the Texas healthcare and technology sectors. [17]

Projects

Discontinued

See also

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References

  1. ↑ Tanna, Shivani (August 16, 2023). "Alphabet's Verily plans cost cuts amid pressure on Other Bets unit - WSJ". Reuters.
  2. ↑ "Verily Life Sciences LLC". OpenCorporates . August 3, 2015. Retrieved August 19, 2023.
  3. ↑ "NIH Director?s Statement Regarding Dr. Thomas Insel?s Departure - the NIH Director - National Institutes of Health (NIH)". Archived from the original on September 18, 2015. Retrieved September 15, 2015.
  4. ↑ Carey, Benedict (September 15, 2015). "Head of Mental Health Institute Leaving for Google Life Sciences". New York Times .
  5. ↑ Brin, Sergey. "Google+ Post".
  6. ↑ "Google Life Sciences debuts a new name, Verily". STAT. December 7, 2015. Retrieved December 7, 2015.
  7. ↑ "Introducing Verily". YouTube. December 7, 2015. Retrieved December 24, 2017.
  8. ↑ Slawski, Bill (March 14, 2016). "Google Assigns 148 Medical Patents to Verily Life Sciences". seobythesea.com. Retrieved September 13, 2016.
  9. ↑ Chowdhry, Amit (September 10, 2014). "Google Continues To Build Upon Its Life Sciences Ecosystem". forbes.com. Retrieved September 13, 2014.
  10. ↑ Hale, Conor (December 20, 2019). "Johnson & Johnson to take over Verb Surgical, its robotics venture with Verily". FierceBiotech.com. Archived from the original on January 8, 2020. Retrieved January 7, 2020.
  11. ↑ Peters, Jay (August 25, 2020). "Verily, Google's health-focused sister company, is getting into insurance". The Verge. Retrieved September 16, 2020.
  12. ↑ Alba, Love (September 9, 2022). "Alphabet's Verily Raises $1 Billion and Shakes Up Leadership Team". Bloomberg News .
  13. ↑ Scott (January 12, 2023). "New Verily Life Sciences CEO to Cut 15% of Staff, Shake Up C-Suite".
  14. ↑ Weise, Karen; Grant, Nico; Isaac, Mike (March 8, 2023). "The Perils of Working on a C.E.O.'s Pet Project". The New York Times. ISSN   0362-4331 . Retrieved March 13, 2023.
  15. ↑ Victor, Jon (August 17, 2023). "Alphabet's Verily Moves Toward Spinoff as Revenue Surges" . The Information . Archived from the original on August 17, 2023. Retrieved August 21, 2023.
  16. ↑ Robins-Early, Nick (June 28, 2024). "Google's biotech company pulls out of Israel but says Gaza war not the reason". The Guardian. ISSN   0261-3077 . Retrieved June 29, 2024.
  17. ↑ "Another Bay Area tech company plans to move headquarters to Texas". The San Francisco Chronicle.
  18. ↑ "Verily Life Sciences". verily.com. Retrieved February 15, 2017.
  19. ↑ "Dexcom G7 CGM - Powerfully simple diabetes management". Dexcom. Retrieved June 28, 2023.
  20. ↑ "Verily Life Sciences". verily.com. Retrieved February 15, 2017.
  21. ↑ Ackerman, Evan (March 3, 2016). "Google and Johnson & Johnson Conjugate to Create Verb Surgical, Promise Fancy Medical Robots". IEEE Spectrum. Retrieved March 3, 2016.
  22. ↑ Rushe, Dominic (November 25, 2014). "Google launches 'smart' spoon to help steady shaking hands". The Guardian . Retrieved November 25, 2014.
  23. ↑ "Liftware Steady | Liftware". www.liftware.com. Retrieved June 28, 2023.
  24. ↑ Kaiser, Jocelyn (July 28, 2014). "Google X sets out to define healthy human | Science/AAAS | News". news.sciencemag.org. Retrieved September 13, 2014.
  25. ↑ "Sanofi and Verily Life Sciences Announce Launch of Onduo, a Joint Venture to Develop Comprehensive Diabetes Management Platform - Sep 12, 2016". news.sanofi.us. Retrieved August 16, 2018.
  26. ↑ "Verily Life Sciences". verily.com. Retrieved March 8, 2023.
  27. ↑ Brian Otis; Babak Parviz (January 16, 2014). "Introducing our smart contact lens project". Google . Retrieved January 17, 2014.
  28. ↑ Brian Otis (November 16, 2018). "Update on our Smart Lens program with Alcon". Verily Blog. Retrieved November 21, 2018.
  29. ↑ Li, Abner (February 1, 2019). "Verily developing smart shoes for health and weight tracking, fall detection". 9to5Google . Retrieved February 1, 2019.
  30. ↑ "Verily and L'Oréal team up on skin research and new digital tools". MobiHealthNews. January 20, 2022. Retrieved January 30, 2022.
  31. ↑ Gibbs, Samuel (October 29, 2014). "Google is developing a cancer and heart attack-detecting pill". The Guardian . Retrieved January 20, 2015.
  32. ↑ "'Silicon Valley arrogance'? Google misfires as it strives to turn Star Trek technology into reality". June 6, 2016.
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