Finance
Science 37 said the purchase will improve its clinical trial workflow and data interoperability capabilities.
Amid a device recall and supply chain struggles, the health tech giant said it would cut more jobs by 2025.
The funds will help the company continue to expand into new markets.
The latest reductions mark the third round of job cuts at the company in less than a year.
The cuts affect about 15% of the health data analytics startup's workforce.
Jonathan Norris, managing director for business development in Silicon Valley Bank's healthcare practice, explains why early-stage investments continued last year even as overall funding fell.
The layoffs make up about 6% of the virtual care giant's non-clinician workforce.
The prescription digital therapeutics company will also put non-ADHD products in development on hold to "conserve capital and focus."
Also, Dozee has received capital backing from British International Investment for its hospital bed upgrade project.
The company's CEO said the layoffs will help Verily refine its strategy, prioritize its product portfolio and simplify its operating model.