George S. May Business Blog

Google Ventures set put $10 million into biotech

Google is said to be putting their venture capital fund, Google Ventures, to use as reports circulate that they are getting set to put an estimated $10 million into Adimab, a biotech firm.

Adimab has been “hot” in the biotech world for developing a new method for generating protein-based drugs. Adimab has already struck deals with drug-makers Merck (MRK) and Roche (RHHBY).

Before the Adimab deal, Google Ventures was yet to invest in the biotech world. Prior to the creation of Google Ventures, however, Google itself had.

Google Ventures is the lead investor in a round said to have raised about $15 million.

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