The two companies will invest £540 million in the new UK-based business over 7 years, as well as contributing intellectual property rights to Galvani. Galvani will “enable the research, development, and commercialisation of bioelectronic medicines.”
Bioelectronics 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.”
GSK has been involved in bioelectronics for 4 years and says it thinks diabetes, arthritis, and asthma could all potentially be treated using the new method.
The idea for the joint venture is that GSK can bring its drug and development expertise to the table, while Alphabet can contribute best-in-class tech and analytics.
More on Business Insider (01/08)
