Alphabet’s life science arm just raised $1 billion

Verily, the life sciences division of Google parent company Alphabet has raised a $1 billion investment round led by private equity firm Silver Lake Partners. Other first time investors in the round include the Ontario Teachers’ Pension Plan.

While the company did not disclose what exactly the giant cash infusion will go toward aside from business babble about “support[ing] growth in key strategic areas,” it did say that Alphabet CFO Ruth Porat and Silver Lake Managing Director Egon Durban will be nominated to join Verily’s operating board.