GSK launches $50M bioelectronics fund
GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) launched its $50 million Action Potential Venture Capital fund, which will invest in five to seven bioelectronics companies over the next five years. Bioelectronics, or electroceuticals, are an emerging class of therapeutics that consist of nanoscale electrical circuits delivered to specific tissues by implantation or targeted delivery. GSK said bioelectronics can be designed to "interface between the peripheral nervous system and specific organs to read, change or generate electronic impulses" to treat disorders like inflammatory bowel disease (IBD), rheumatoid arthritis (RA) and respiratory and metabolic disorders like Type II diabetes. The strategic fund announced its first investment in SetPoint Medical Inc. (Valencia, Calif.) on Thursday (see below). ...