GlaxoSmithKline (GSK), the biggest pharmaceutical firm in Britain, launched a USD 50 million venture capital fund for bioelectronic medicines and technologies. Called the4 Action Potential Venture Capital (APVC), the fund invests in companies that develop miniaturized devices that make use of electrical impulses to treat various diseases. They plan to have the first medicine using the technology approved before the decade ends.
APVC made its first investment in SetPoint Medical. It is a firm that treats inflammatory conditions using implantable devices. Over the next five years, APVC said it plans to have a portfolio of five to seven firms. Headquartered in Cambridge, Massachusetts, the venture fund said it will focus on startups that pursue bioelectronic medicines initiatives, existing firms that already have first-generation devices that interact with the peripheral nervous system, and on companies that have platforms which advance these treatment modalities.
The field of bioelectronic medicine is still fairly new but GSK believes it leads the pack. Eventually, the drugmaker plans to use these electronic devices to target specific cells to cure diseases like diabetes, breathing problems, and even brain disorderss
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