GSK forms bioelectronics venture with Alphabet

AFP, LONDON: British drugs giant GlaxoSmithKline announced yesterday that it will form a joint venture with Google’s parent company Alphabet to research and develop so-called bioelectronic medicines.
GSK has agreed with Verily Life Sciences (formerly Google Life Sciences) to create a new company called Galvani Bioelectronics, it said in a statement.
The venture will be headquartered in Britain and will receive a total investment of up to £540 million ($714 million, 640 million euros) over seven years.
GSK will hold a majority of 55 per cent in the group and Verily will have a 45 per cent stake.
“Bioelectronic medicine is a relatively new scientific field that aims to tackle a wide range of chronic diseases using miniaturised, implantable devices that can modify electrical signals that pass along nerves in the body, including irregular or altered impulses that occur in many illnesses,” the statement added.

GSK forms bioelectronics venture with Alphabet

AFP, LONDON: British drugs giant GlaxoSmithKline announced yesterday that it will form a joint venture with Googles parent company Alphabet to research and develop so-called bioelectronic medicines. GSK has agreed with Verily Life Sciences (formerly Google Life Sciences) to create a new company called Galvani Bioelectronics, it said in a statement. The venture will be headquartered in Britain and will receive a total investment of up to 540 million ($714 million, 640 million euros) over seven years. GSK will hold a majority of 55 per cent in the group and Verily will have a 45 per cent stake. Bioelectronic medicine is a relatively new scientific field that aims to tackle a wide range of chronic diseases using miniaturised, implantable devices that can modify electrical signals that pass along nerves in the body, including irregular or altered impulses that occur in many illnesses, the statement added.