The deal gives Google a partner with healthcare experience to commercialize the glucose-recording contact lens technology it unveiled earlier this year.
While virtual biotechs and the service providers that support them have been around for years, Transcriptic and rival West Coast startups think they can improve the model through automation. And having raised cash from Google's venture unit and struck deals with some elite academic centers, Transcriptic is now rolling out the next phase of its plan.
Novartis and Google are teaming up to develop Google's smart contact lenses for intraocular medical conditions.
After weeks of increasingly confident media speculation, Google has confirmed it is setting up an outpost of its venture capital wing in Europe. And with a brief to follow a similar strategy to the U.S. team that invested in Flatiron Health, DNAnexus and other biotech IT startups, the $100 million fund is a new source of capital for European life science innovators.
Over the past few years, Google has expanded into life sciences, with venture capital investments, the creation of Calico and development of "smart" contact lenses giving it multiple beachheads in the industry. But the search giant's co-founders have reservations about getting deep into healthcare, saying regulations make it a "painful" sector in which to work.
Internet giants are busy spinning plans for wearables ahead of Google's developer conference in San Francisco, CA, this week. But it's not quite clear yet what medical applications these new devices will have and how they will be regulated.
While Apple, Google and Samsung are all trying to persuade people to use their mobile technology to create personal health hubs, Illumina plans to take the concept further still. The genomic giant is working to turn smartphones into "molecular stethoscopes" that could change how patients interact with the healthcare and research ecosystems.
In the months since Google unveiled its cloud-based genomics platform, the only public sign of the project's evolution has been the frequent updates to its underlying code on GitHub. That changed this week when Google Genomics signed up a customer: Autism Speaks.
Unregulated mobile phone apps that claim to help diabetics spot early vision loss and perform other medical functions are proliferating, and the FDA is struggling to keep up.
Google Ventures' reported $100 million investment in oncology Big Data startup Flatiron Health came to fruition this week. And the deal is even bigger than early reports suggested, with Flatiron raising $130 million and buying electronic medical record business Altos Solutions.