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Google Joins Novartis Backing Medicxi’s New $300m Late-Stage Fund

 
• By Mike Ward

Alphabet's Verily Life Sciences intends to increase its exposure to European biotech by joining Novartis and the European Investment Fund as cornerstone investors in Medicxi Growth 1 (MG1), a $300m fund launched by VC firm Medicxi to focus on late-stage private life science companies.

Euro currency

Spotting what it sees as a clear gap in European life sciences, Medicxi has raised $300m to establish Medicxi Growth 1 (MG1), which primarily will focus on growth stage companies, with Novartis AG, Alphabet’s Verily Life Sciences LLC and the European Investment Fund as cornerstone investors.

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