What was the objective that justified Verily's creation back in 2015? And what is its relationship with Alphabet today?
The inception of Verily and Alphabet are closely intertwined, marking a significant moment in 2015 when Alphabet was established as Google's parent company. The purpose behind Alphabet's creation was to diversify Google's business with companies in adjacent markets that could benefit from Alphabet’s computing expertise, scale, and infrastructure. This initiative led to the establishment of Google X, or simply X, a moonshot factory where innovative projects were incubated. Verily, originally Google Life Sciences, emerged from Google X, transitioning into a standalone entity within Alphabet.
What does Verily aim to achieve with its mission to be the backbone of precision health?
Verily's mission is articulated through its evolution across three distinct phases. The initial phase focused on entrepreneurship, driving the creation of impactful products, including a partnership with Dexcom to develop miniaturized electronics for their G7 continuous glucose monitor, the smallest CGM to date. This period set the foundation for Verily's innovative approach to healthcare. The second phase was defined by the COVID-19 pandemic, during which Verily took an active role in testing and responding to the crisis.
Currently, in its third phase, Verily is committed to advancing precision health by leveraging data and technology to improve healthcare outcomes, accessibility, and equity. This involves a strategic focus on clinical research, care delivery, and health financing, demonstrating Verily's dedication to improving healthcare through AI, data science, and a broad range of technologies.
Could you introduce us to Viewpoint and its role in clinical research?
Verily Viewpoint is part of our comprehensive suite for enhancing clinical research, including partnerships with biopharmaceutical companies to optimize clinical trials through technology. This encompasses patient recruitment, consent processes, and clinical trial management.
Viewpoint also includes Workbench, which connects data providers and researchers on a collaborative healthcare data platform for analysis and insights, and exemplifies Verily's innovative approach to clinical research, enabling more efficient, data-driven studies. By not competing directly with traditional Contract Research Organizations (CROs), but rather providing unique technology-enabled solutions, Verily aims to complement the existing research ecosystem, offering sophisticated tools and platforms to address the complex needs of biopharma companies and research institutions.
Can you provide an example of collaboration in clinical research?
Our collaborations with Otsuka on the Major Depressive Disorder (MDD) study and with L’Oréal on a health equity-focused hair and skin registry are prime examples. With Otsuka, we have deeply engaged in utilizing our clinical trial solutions for their research across multiple conditions in psychiatry, marking a significant partnership that showcases our capabilities. With L’Oréal, we are building a first of its kind registry to better understand the factors that contribute to skin and hair health over time. It also includes a sub study to better understand skin and hair health needs among Black women. This work illustrates our role in bridging beauty and science.
Could you introduce us to Numetric and your work on digital biomarkers?
Numetric signifies our commitment to advancing healthcare through technology by integrating digital biomarkers into our suite of clinical research tools. It encompasses devices like our Study Watch and our Retinal Camera for diabetic retinopathy, offering medical-grade monitoring and data collection. This aspect of our portfolio enables us to provide comprehensive solutions in clinical research, blending device-generated data with our platform’s capabilities.
Can you discuss your dual solution platform for diabetes management?
Onduo is designed to address the pressing need for effective diabetes management, catering to both type 1 and type 2 diabetes. This platform is offered through insurance providers or directly to employers, embedding seamlessly into benefits offerings to enhance employee health. The service encompasses a range of interventions from weight management to mental health support.
What is your perspective on Verily's market share and future growth in the digital health sector?
In addressing the digital health market, Verily operates across a broad spectrum, including clinical research, care delivery, and health financing. Our diverse portfolio makes it possible for us to address a significant portion of the healthcare industry, from conducting advanced clinical trials to offering innovative care solutions and insurance products. Although we do not focus on market share specifics, our strategic initiatives are aimed at substantial growth sectors within the $4 trillion US healthcare industry. Our focus remains on enhancing healthcare delivery and outcomes through technology, positioning Verily as a significant player in the digital health landscape.
Looking into the future, what excites you most about Verily's potential next steps?
Looking ahead, the integration of advanced AI capabilities into healthcare stands out as a significant opportunity for Verily. Other initiatives, such as work across our Sightline public health portfolio for wastewater monitoring and our mosquito abatement program, Verily Debug, exemplify our commitment to leveraging technology for broad-scale public health benefits. Verily aims to serve as a bridge in the healthcare industry, connecting data silos and enhancing interoperability to fulfill our mission of precision health. Our future involves not only maintaining our core business and technical expertise but also evolving as a thought leader and strategic partner to navigate the increasingly complex healthcare landscape, ultimately positioning Verily as a crucial connector in the ecosystem.
