On the heels of a series of prominent recent hires, Verily announced plans on Tuesday to make its first major acquisition by buying SignalPath, a North Carolina company which developed a clinical trial management platform.
Verily, an Alphabet spinout founded in 2015, plans to use the acquisition to increase its appeal to clinical trial sites and to speed its efforts on decentralized research, Amy Abernethy, whom Verily hired in June to serve as president of its clinical research business, told STAT. As part of that work, Abernethy is steering Baseline — the company’s showpiece research and evidence-generation platform — by working to assemble a portfolio of studies and uncover new treatments for diseases.
The terms of the acquisition were not disclosed. The SignalPath deal comes as Verily appears to be inching back the curtain on its overarching strategy and consolidating its health efforts, which have ranged from a mosquito eradication program to a subsidiary that makes eating utensils for people with Parkinson’s and essential tremors. In recent months, the company has signaled a strong focus on building out its footprint in research.
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