Innovation Endeavors, the venture capital firm co-founded by former Google chairman and CEO Eric Schmidt, is bringing in one of the few researchers who saw through Theranos to help expand its biotech investing.
The firm has hired Joel Dudley as a partner specializing in biotech. Until recently, Dudley served as the chief scientific officer at Tempus, a health tech unicorn that’s developing a system that can answer physicians’ cancer questions on the spot. Prior to Tempus, Dudley was a researcher at the Icahn School of Medicine at Mount Sinai, where he and a team conducted one of the few published studies of Theranos’ blood tests, finding problems with its cholesterol readings.
First and foremost, Innovation Endeavors has been a tech investor, backing companies like Uber and SoFi. But it has delved into the drug industry with investments in Eikon Therapeutics and Freenome. Dudley’s job is to do more of that, though the firm declined to say how much it would invest in biotechs. Innovation Endeavors currently has $2 billion in assets under management.
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