Galvani Bioelectronics, a newly established company launched by GlaxoSmithKline (GSK) and Verily Life Sciences (formerly Google Life Sciences), will explore a new wave of science. Galvani Bioelectronics will focus on the development of bioelectronic medicine: the use of implantable devices to modify the electrical signals that nerve cells use to communicate within the body.
Never mind an IPO, inVentiv sells 50% stake to equity firm Advent
After indicating it was gearing up for an imminent initial public offering, CRO inVentiv Health last week went in a different direction. Instead, the equity group Advent International Corp. has purchased a 50% stake in the company, making Advent a co-owner of the CRO with Thomas H. Lee Partners, which bought inVentiv in 2010 for approximately $1.1 billion. The deal values inVentiv at $3.8 billion.
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