Google’s (GOOG) venture capital fund, Google Ventures, is investing an amount rumoured to be around $10 million in Adimab, a biotech firm, Andrew Pollack reports for the New York Times.
Adimab has developed a new method for generating protein-based drugs, and has already struck deals with drug-makers Merck (MRK) and Roche (RHHBY) to use the process.
This is Google Ventures’ first biotech investment, though Google itself put money into the industry before launching an independent venture capital arm.
Google Ventures is the lead investor in a round said to have raised about $15 million.
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