Google shutting down biotech company’s R&D centers in Israel
Google shutting down biotech company’s R&D centers in Israel
Verily was launched in Israel in August 2021, but its approximately 30 remaining employees, based in Tel Aviv and Haifa, are being laid off following Alphabet's decision to concentrate all R&D activity in the U.S.
Google's parent company Alphabet is terminating the activity of its biotech company Verily in Israel. Verily was launched in Israel in August 2021, but its approximately 30 remaining employees, based in Tel Aviv and Haifa, are being laid off following Google's decision to concentrate all R&D activity in the U.S.
Verily has raised more than $3.5 billion to date and has been trying to emerge from under the shadow of Google parent company Alphabet for years. It has undergone several rounds of layoffs over recent years as it prepares itself for a potential IPO as an independent company.
“As part of our ongoing review of business needs, Verily has made the difficult decision to begin the process to close its R&D center in Israel located in both Haifa and Tel Aviv,” a spokesperson for Verily told The Guardian, which first published the news. “This decision is in keeping with our strategy as we continue to streamline our overall company operations.”
“The Israel-Gaza war played no part in our decision,” the spokesperson added.
“The Verily Israel team has driven important innovations and advancements in the past several years, specifically focused on applying artificial intelligence (AI) techniques to biomedical problems,” the spokesperson said. “We plan for this critical work to continue in our US-based sites.”
