GSK links with Alphabet on new bioelectronics companyStaff Writer | August 1, 2016
GlaxoSmithKline (GSK) announced a new agreement with Verily Life Sciences - formerly Google Life Sciences, an Alphabet company, to form Galvani Bioelectronics.
Cooperation Commercialisation of bioelectronic medicines
Galvani Bioelectronics will be headquartered in the UK, with the parent companies contributing existing intellectual property rights and an investment over seven years, subject to successful completion of various discovery and development milestones.
The agreement to establish Galvani Bioelectronics represents an important next step in GSK's bioelectronics research, its board explained.
It said 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.
Initial work will centre on establishing clinical proofs of principle in inflammatory, metabolic and endocrine disorders, including type 2 diabetes, where substantial evidence already exists in animal models; and developing associated miniaturised, precision devices.
Galvani Bioelectronics will be headquartered within GSK's global research and development centre at Stevenage, the board confirmed, with a second research hub at Verily's facilities in San Francisco.
It will initially employ around 30 expert scientists, engineers and clinicians, with Kris Famm, GSK's vice president of bioelectronics R&D, appointed president of the new company. The new company will be fully consolidated in GSK's financial statements. ■