(Credit: MoneyTimes) Campbell Soup Co. letters spell out 'XYZ' on a spoon and the word 'Google' in a bowl in this arranged photograph taken in New York U.S., on Wednesday, Aug. 12, 2015. Google Inc. rose as much as 6.5 percent after reorganizing into a holding company called Alphabet Inc., breaking out its main Web operations from ambitious new endeavors such as research lab Google X and Calico, which seeks to extend human lives. The structure, announced Monday, will give greater clarity into how Google invests in various ventures, including driverless cars, high-speed Internet service and health-related technologies.

Google's Life Sciences is now a standalone entity that will be a wholly owned subsidiary of Alphabet after being under Google X.

According to Alphabet President Sergey Brin, Google Life Sciences head Andy Conrad would still head the department. In a Google+ post, Brin said only the reporting structure will change, but the goal will still be the same. The team will continue to work with other life sciences companies to transition new technologies from R&D stage to clinical testing. This will enhance the way diseases are detected, prevented, and managed.

Google's Life Sciences is now a standalone entity that will be a wholly owned subsidiary of Alphabet after being under Google X.

According to Alphabet President Sergey Brin, Google Life Sciences head Andy Conrad would still head the department. In a Google+ post, Brin said only the reporting structure will change, but the goal will still be the same. The team will continue to work with other life sciences companies to transition new technologies from R&D stage to clinical testing. This will enhance the way diseases are detected, prevented, and managed.