The first new company to be formed under the Alphabet umbrella is the company's life sciences group, The Verge reports. Google recently underwent a corporate restructuring through which its search business and other ventures became sub-companies under the Alphabet name.
The life sciences group, which had been under the auspices of the company's X lab is now becoming a standalone Alphabet company under the leadership of Andy Conrad, Google co-founder and Alphabet president Sergey Brin says in a blog post.
The new 150-member life sciences company will continue to focus on its initiatives to develop contact lenses to sense the blood sugar levels of diabetics, create nanoparticles to treat cancer, and to amass genomic data as part of its Baseline Study to determine what a healthy person looks like, The Verge says.
"They'll continue to work with other life sciences companies to move new technologies from early stage R&D to clinical testing — and, hopefully — transform the way we detect, prevent, and manage disease," Brin adds.
A Google spokesperson tells the Los Angeles Times that an official company name for the life sciences group will be coming soon. The paper adds that this new group will be separate from Calico, Alphabet's venture to combat aging.