Alphabet’s life sciences offshoot Verily said Friday that it has raised $1 billion to fuel its next stage of development — one that will be steered by a new corporate leader as CEO Andy Conrad plans to shift to an advisory role.
The eye-popping funding round was led by Alphabet, reinforcing Verily’s ties to its corporate parent even as it seeks to assert its independence and build a profitable business after years of sometimes scattershot projects and investments.
Stephen Gillett, who was hired as an operational adviser in 2020, will take over day-to-day leadership in January. Meanwhile, chief financial officer Deepak Ahuja is leaving for another unidentified opportunity, the company said.
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