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.
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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