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 | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |