Verily, the health-focused Alphabet subsidiary, has announced that it will be acquiring the software developer SignalPath, FierceBiotech reports.
This acquisition, it notes, would bolster Verily's Project Baseline effort. Verily launched the project in 2017 with the aim of collecting genetic data, blood samples, imaging data, and more from 10,000 healthy individuals to piece together a picture of what a health person looks like and track any changes that arise as disease develops. According to MedCity News, the software platform Verily uses for this project has evolved from one it uses internally to one that biopharmaceutical companies can use for clinical trials. SignalPath's clinical trial management system TrialPath, meanwhile, digitizes trial protocols and can track the various moving pieces of a trial, FierceBiotech says.
"Joining forces helps to accelerate and scale our shared vision, increase efficiency and lower costs in clinical trials, empower clinical research sites with world class technology, and ultimately bring medicines to patients faster," Amy Abernethy, president of clinical studies platforms at Verily, says in a statement.
FierceBiotech adds that the financial terms of the deal were not disclosed and notes that Verily raised $700 million at the end of 2020 that the company said it would be using to expand.