ARTICLE | Finance
Electric with potential
How $50M VC fund will help GSK expand outreach in bioelectronics space
August 19, 2013 7:00 AM UTC
With an in-house R&D unit and academic outreach program in place, GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) is further entrenching itself in the nascent field of bioelectronics by launching a $50 million strategic fund to invest in young companies developing electroceutical programs.
GSK's Action Potential Venture Capital made its maiden investment this month by participating in a $27 million private round in SetPoint Medical Inc., which is developing an implantable neuromodulation device to treat rheumatoid arthritis (RA) and inflammation-mediated autoimmune diseases...