In the News
Alphabet and GSK Enter £0.5bn Joint Venture to Invest in Bioelectronic Medicines
This looks like a really interesting example of a joint venture between two global multinational businesses - GSK and Alphabet (the parent company of Google).
The Guardian reports here on the formation of a 55:45 joint venture into which GSK and Alphabet have committed to invest just over £500m.
The joint venture business will be named Galvani Bioelectronics and its purpose is to develop and commercialise bioelectronic medicines.
Bioelectronics is a new segment of the global medical market where businesses are investing in treatments to tackle a wide range of chronic diseases, such as arthritis, diabetes and asthma. This is done using tiny computerised implants and is thought to have significant potential to work alongside conventional medicines and vaccines.
The good news for the UK economy is that Galvani Bioelectronics will be based in the UK!