Monday, August 01, 2016

Google parent Alphabet and GlaxoSmithKline Partner to create Galvani Bioelectronics

Alphabet and GlaxoSmithKline partnership Galvani Bioelectronics graphic

Alphabet and GlaxoSmithKline Joint Venture: Galvani Bioelectronics

Search powerhouse Google parent Alphabet and pharmaceutical company GlaxoSmithKline are partnering to create Galvani Bioelectronics. This joint venture will be located in the UK. GlaxoSmithKline will own 55% of Galvani Biolectronics, while Alphabet (Google's parent company), will own 45% of Galvani Bioelectronics. The tentative date that Galvani Bioelectronics will have electrical medical implant treatments ready for the regulatory agency to review, will be the year 2023.

Announcement from GlaxoSmithKline and Alphabet

On 01 August 2016, GlaxoSmithKline and Alphabet announced their new joint venture into electrical medical implants by creating Galvani Bioelectronics. The goal is to "harness" electrical signals in the body to treat chronic diseases. Bioelectronics is still relatively new in the medical field, and Alphabet and GlaxoSmithKline want to be on the forefront of new medical discoveries (although GlaxoSmithKline has been active in this field since 2012). "New" meaning that very little progress has been made in this field as far as developing practical medical treatments for the human body. Alphabet's company Verily has expertise in the miniaturization of low power electronics, which is why this is such a strategic partnership.

The main headquarters for this joint venture will be in Stevenage in the UK, and research will also be conducted at Verily's facility in San Francisco, CA.

Galvani Bioelectronics to Create Miniature Electrical Medical Implants

The joint venture between Alphabet and GlaxoSmithKline will produce miniature electrical medical implants to treat a wide array of diseases in the human body. Think of a TENS unit, only smaller, and inside the body. Galvani Bioelectronics will be funded with about $712M over the next seven years.

Fun Fact: The inspiration of the company name Galvani Bioelectronics is from Luigi Aloisio Galvani, who was an 18th century scientist that first explored this field of bioelectronics.

In Other News...

In other news, Tesla has announced that it is buying SolarCity for $2.6B being that they have similar synergy in the renewable energy industry.

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