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Glaxo Teams Up with Alphabet on Bioelectronic Med Deal

Two heavyweights have thrown their weight behind bioelectronics medicine. Glaxosmithkline (GSK) and Alphabet's (GOOGL) Verily Life Sciences today announced a joint venture to form Galvani Bioelectronics.

The new company will be based in the U.K. and will "enable the research, development and commercialization of bioelectronics medicines."

GSK will hold 55% of the equity interest in Galvani and Verily (formerly Google Life Sciences) will own the remaining 45%. Under the deal each company will contribute existing intellectual property rights and together...