GSK in joint ven­ture with Al­pha­bet

The Myanmar Times - - International Business -

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.

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