Googles Venture Capital Wing Invests In Biotech Company
Googles venture capital group is investing millions into Adimab, a biotech company that will construct a massive library of antibodies, some of which may yield powerful new drugs, the New York Times blog Bits reports. A Google Ventures executive said the company invests in “a variety of fields that dont necessarily directly correlate with Google products or services,” but acknowledged that because “heavyduty computation” is now a key part of biotech development, Google may collaborate with Adimab (Pollack, 10/1).
The executive also told Dow Jones VentureWire/Wall Street Journal, “Google Ventures has a pretty broad mandate.” VentureWire reports “The firm, which invests for financial return, is considering opportunities in biotech, genomics, diagnostics and health careIT, including the field of electronic medical records” (Gormley, 10/1).
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