GlaxoSmithKline PLC (LON:GSK) is teaming up with a subsidiary of Google owner Alphabet Inc (NASDAQ:GOOG) to develop bioelectronic medicines.
The drug giant is setting up a new company, Galvani Bioelectronics, with Verily Life Sciences LLC, formerly known as Google Life Sciences.
They will invest a total of up to £540mln over seven years in the company, in which GSK will hold a 55% stake and Verily 45%.
Bioelectronic medicine aims to tackle a wide range of chronic diseases using miniaturised, implantable devices that modify electrical signals that pass along nerves in the body, including irregular or altered impulses that occur in many illnesses.
GSK has been active in this field since 2012 and believes certain chronic conditions such as arthritis, diabetes and asthma could potentially be treated using the technology.
Galvani will initially work to establish clinical proofs of principle in inflammatory, metabolic and endocrine disorders, including type 2 diabetes, where substantial evidence already exists in animal models; and developing associated miniaturised, precision devices.
GSK’s global vaccines chairman Moncef Slaoui said: "Many of the processes of the human body are controlled by electrical signals firing between the nervous system and the body’s organs, which may become distorted in many chronic diseases.
"Bioelectronic medicine’s vision is to employ the latest advances in biology and technology to interpret this electrical conversation and to correct the irregular patterns found in disease states, using miniaturised devices attached to individual nerves.
"If successful, this approach offers the potential for a new therapeutic modality alongside traditional medicines and vaccines."
Galvani Bioelectronics will be based in GSK’s global R&D centre at Stevenage, Hertfordshire, with a second research hub at Verily’s facilities in south San Francisco.
It will initially employ around 30 expert scientists, engineers and clinicians.
GSK's shares rose 1.5p to 1689.5p in early London trading.