GSK forms bioelectronics venture with Google’s AlphabetAugust 1, 2016 - 15:27 AMT PanARMENIAN.Net - British drugs giant GlaxoSmithKline announced Monday, August 1 that it will form a joint venture with Google's parent company Alphabet to research and develop so-called bioelectronic medicines, AFP reports. 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 percent in the group and Verily will have a 45 percent 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 has been active in this field since 2012 and believes certain chronic conditions such as arthritis, diabetes and asthma could potentially be treated using these devices." Monday's announcement comes one week after GSK revealed plans to invest £275 million into three of its British manufacturing sites, shrugging off worries over economic fallout arising from Brexit. That investment will be ploughed into facilities in Barnard Castle in northeastern England, Ware in the southeast, and Montrose in Scotland. Photo: GSK Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. |