GlaxoSmithKline ($GSK) has announced a major new joint venture with Verily--once Google Life Sciences--as the two join forces with the hope of creating the first generation of bioelectronic medicines for chronic diseases.
GSK has been working on this bioelectronic approach since 2012--an approach that aims to disrupt certain electronic signals in the body through tiny implanted devices in the hope of altering the pathways of a number of diseases and conditions.
It’s stumped up around $50 million in VC cash in that time, but today is taking a much larger leap into this burgeoning area where tech meets biology by putting down £540 million ($715 million) over the next 7 years into a JV with Verily, which will focus on building devices that target arthritis, diabetes and asthma.
Verily, a part of Alphabet ($GOOG) and graduating from its secretive Google X division, has recently become its own unit, with a focus on big data and devices, such as a "smart" contact lens and surgical robots.
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