GSK in joint venture with Alphabet
British drugs giant GlaxoSmithKline will form a joint venture with Google’s parent company Alphabet to research and develop so-called bioelectronic medicines. 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 (US$714 million) over seven years. GSK will hold a majority of 55 percent in the group and Verily will have a 45pc stake.