Google’s health care business outfit, Verily is teaming up with UK’s pharmaceutical giant, GlaxoSmithKline (GSK) to develop bioelectronic medicines that can “harness electrical signals in the body to treat chronic diseases.”
Both companies under the agreement, will invest up to $715 million to launch a new company, Galvani Bioelectronics. The to-be formed new company is named after Luigi Galvani, an 18th century Italian scientist who was one of the early pioneers of bioelectricity.
Galvani Bioelectronics according to GSK, will be headquartered in UK, with a second research hub in San Francisco and will primarily focus on the “research, development and commercialization” of bioelectronics.
GSK believes that biomedicines can treat conditions like arthritis and asthma, but one of Galvani Bioelectronics’ first projects will focus on the development of “miniaturised precision devices” that can help remedy “inflammatory, metabolic and endocrine disorders” including type 2 diabetes.
GSK in this partnership, will fuse its drug discovery and development experience and prowess with Verily’s expertise in developing tiny low power electronics.