Google's parent company, Alphabet, has announced that it has teamed up with British pharmaceutical giant GlaxoSmithKline to form a joint venture, Galvani Bioelectronics, focusing on the development and commercialization of microelectronic medical devices implanted in the human body. It is reported that GlaxoSmithKline will hold a 55% stake in the joint venture company, and the subsidiary Verily Life Science Company of Alphabet holds the remaining shares. The latter was formerly known as Google Life Sciences. The two companies plan to invest up to 540 million pounds in the joint venture in the next seven years.
According to a statement issued by the two companies, bioelectronics medical is a relatively new field of science, mainly by implanting micro-devices into human nerves, modifying the electrical signals transmitted by human nerves, regulating the irregularities caused by many diseases or being changed. Pulse to treat chronic diseases such as arthritis, diabetes, and asthma. The two parties are expected to launch related products around 2023 and apply to the regulatory authorities for listing approval.
GlaxoSmithKline has been focusing on the bioelectronics medical field since 2012. So far, it has conducted more than 50 studies around the world and invested 50 million US dollars to establish a venture capital fund focusing on this field. The company has previously stated that it hopes to conduct clinical research on related technologies in 2017, and preliminary results will be obtained in the next three years.
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Verily Life Sciences has been working on the development of wearable medical devices and biosensors. The company has developed a smart contact lens that helps diabetics monitor blood sugar levels by analyzing the glucose content of the wearer's tears and wirelessly sends them to mobile devices such as smartphones.
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