GlaxoSmithKline Launches $50M Venture Capital Fund

GSK has launched $50m venture capital fund to invest in pioneering bioelectronic medicines and technologies.

Action Potential Venture Capital (APVC) Limited, which complements the work of GSK’s Bioelectronics R&D unit,  will focus on investing in three areas:

– new start-up companies that aim to pursue the vision of bioelectronic medicines;
– existing companies with technologies that are interacting with the peripheral nervous system through first-generation devices that can stimulate or block electrical impulses; and
– companies advancing technology platforms that will underpin these treatment modalities.

The vehicle, based in Cambridge, Massachusetts and managed by a dedicated team, has just made its first investment in SetPoint Medical, a developer of implantable device for treating inflammatory diseases (read here).

Imran Eba was named as the first partner of Action Potential Venture Capital.

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