By Julie Steenhuysen
CHICAGO (Reuters) – Alphabet Inc's life sciences unit, which was previously a part of the tech company's Google X research & development unit, has picked Verily as its new name as it seeks more visibility in the fast-growing medical technology sector.
The name alter follows Google's transition to the parent name Alphabet, which in October became the publicly traded company that houses Google's core search & web advertising business, as well as maps, YouTube & its "moon shot" ventures such as driverless cars.
According to Verily's new website (www.verily.com), the company's mission is "to bring together technology & life sciences to uncover new truths approximately health & disease."
Verily already has several projects in the works, including the development of a smart contact lens in partnership with the Swiss drugmaker Novartis that has an embedded glucose sensor.
"We hope this smart contact lens will make it easier for people with diabetes to monitor themselves continuously by measuring the glucose in their tears," the company said on its website.
The company's research team is moreover undertaking a multi-year project, known as the Baseline study, that aims to identify traits associated with a healthy human & the changes that take place as individuals transition from health to disease.
(Reporting by Julie Steenhuysen; Editing by Bill Rigby)