GSK, Verily Establish Bioelectronics Joint Venture

GlaxoSmithKline and Verily Life Sciences have formed a joint venture in the device space called Galvani Bioelectronics.

The companies plan to research, develop and commercialize bioelectronic medicines by harnessing electrical signals in the body to treat chronic diseases. GSK will hold a 55 percent equity interest in the new joint venture, and Verily will hold 45 percent.

Bioelectronic medicine aims to tackle chronic diseases using miniaturized, implantable devices that can modify electrical signals that pass along nerves in the body. — Tamra Sami