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GSK forms bioelectronics venture with Alphabet
Parvez Jabri
01 Aug, 2016
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Copyright AFP (Agence France-Presse), 2016
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![](https://i.brecorder.com/images/2016/08/gsk.jpg">LONDON: British drugs giant GlaxoSmithKline announced Monday that it will form a joint venture with Google's parent company Alphabet to research and develop so-called bioelectronic medicines.</P><P>GSK has agreed with Verily Life Sciences (formerly Google Life Sciences) to create a new company called Galvani Bioelectronics, it said in a statement.</P><P>The venture will be headquartered in Britain and will receive a total investment of up to #540 million ($714 million, 640 million euros) over seven years.</P><P>GSK will hold a majority of 55 percent in the group and Verily will have a 45 percent stake.</P><P>)
