Google bio firm in $1.5 bn alliance against aging ills

Sep 03, 2014

Google backed life sciences firm Calico and bio-pharmaceutical titan AbbVie on Wednesday announced an alliance to invest $1.5 billion to find ways to battle age-related diseases.

Under the agreement, the companies will combine strengths to discover, develop and bring to market new therapies for illnesses that afflict people as they get old.

The list of targets includes and cancer.

"Our relationship with AbbVie is a pivotal event for Calico, whose mission is to develop life-enhancing therapies for people with age-related diseases," said Calico chief Art Levinson, a former head of Genentech.

" It will greatly accelerate our efforts to understand the science of aging, advance our clinical work, and help bring important new therapies to patients everywhere."

The agreement between the companies will lead to the creation of a premier research and development facility in the San Francisco area.

"This collaboration demonstrates our commitment to exploring new areas of medicine and innovative approaches to drug discovery and development that augments our already robust pipeline," said AbbVie chief executive Richard Gonzalez.

"The potential to help improve patients' lives with new therapies is enormous."

AbbVie and Calico will each provide $250 million at the outset, then later fund the venture with an addition $500 million each, according to terms of the agreement.

AbbVie was spun off from Abbott Laboratories last year to focus on developing ways to treat some of the world's complex and serious diseases.

Calico, short for California Life Sciences, was created by Google with a mission of using advanced technologies to help people live longer, healthier lives.

Explore further: Google's health startup forges venture with AbbVie

add to favorites email to friend print save as pdf

Related Stories

Google's health startup forges venture with AbbVie

Sep 03, 2014

Google's ambitious health startup is teaming up with biotechnology drugmaker AbbVie in a $500 million joint venture that will try to develop new ways to treat cancer and other diseases such as Alzheimer's.

Google 'anti-aging' group has a website

Aug 12, 2014

Google's new company aimed at addressing problems of health and aging has taken a step forward—with its own website and mission statement.

Takeover target Shire promises strong growth

Jun 23, 2014

Takeover target Shire on Monday highlighted its potential as a standalone drugmaker, offering investors a rosy projection of its earnings potential that it believes is not reflected in the acquisition proposal made by U.S.-based ...

Recommended for you

Underfire Uber ramps up rider safety

12 hours ago

Uber is ramping up driver background checks and other security measures worldwide after the smartphone-focused car-sharing service was banned in New Delhi following the alleged rape of a passenger.

Sony cancels NKorea parody film release after threats

12 hours ago

Hollywood studio Sony Pictures on Wednesday abruptly canceled the December 25 release date of "The Interview," a parody film which has angered North Korea and triggered chilling threats from hackers.

Sprint accused of billing for unwanted services

16 hours ago

(AP)—Federal regulators are accusing Sprint Corp. of illegally billing its wireless customers hundreds of millions of dollars in charges for text message alerts and other services that they didn't order.

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

nanotech_republika_pl
not rated yet Sep 03, 2014
"Calico, short for California Life Sciences, was created by Google with a mission of using advanced technologies to help people live longer, healthier lives." They would do better job if they had spent some of that money for the SENS Research Foundation. Just fix the aging cells and tissue.

http://www.sens.o...research

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.