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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |