01 August 2016
GSK has announced an agreement with Verily Life Sciences LLC (formerly Google Life Sciences) to form Galvani Bioelectronics in order to enable the research, development and commercialisation of bioelectronic medicines. In the new jointly owned company, GSK will hold a 55% equity interest and Verily will hold 45%. Galvani Bioelectronics will be headquartered in the UK, and the parent companies will contribute existing intellectual property rights and an investment of up to £540 million over seven years, subject to fruitful completion of various development and discovery milestones.
The agreement for establishing Galvani Bioelectronics signifies a vital next step in GSK’s bioelectronics research. The new company will bring together GSK’s world class drug discovery and development expertise and deep understanding of disease biology with Verily’s world leading technical expertise in the miniaturisation of low power electronics, device development, data analytics and software development for clinical applications.
Moncef Slaoui, GSK’s Chairman of Global Vaccines, said: “This agreement with Verily to establish Galvani Bioelectronics signals a crucial step forward in GSK’s bioelectronics journey, bringing together health and tech to realise a shared vision of miniaturised, precision electrical therapies. Together, we can rapidly accelerate the pace of progress in this exciting field, to develop innovative medicines that truly speak the electrical language of the body.”
“This is an ambitious collaboration allowing GSK and Verily to combine forces and have a huge impact on an emerging field. Bioelectronic medicine is a new area of therapeutic exploration, and we know that success will require the confluence of deep disease biology expertise and new highly miniaturised technologies,” said Brian Otis, Verily’s Chief Technology Officer.
GSK and Verily Agree to establish Galvani Bioelectronics – a new company dedicated to the development of bioelectronic medicineslast edit: 2016-08-16T17:35:10+00:00da