GlaxoSmithKline (GSK), a UK-based pharmaceutical company, has launched Action Potential Venture Capital, a $50m strategic fund that will invest in companies that are pioneering bioelectronic medicines and technologies.
The fund’s name derives from electrical signals called “action potentials” that pass along nerves. Irregular or altered patterns may occur in association with diseases, and GSK believes that miniaturised devices, or bioelectronic medicines, can be designed to read these patterns and to treat disorders, acting as an interface between the peripheral nervous system and specific organs.
The fund will complement the work of GSK’s bioelectronics R&D unit, established in 2012.
Moncef Slaoui, chairman of R&D and architect of GSK’s early stage investment strategy, said: “We want to help create the medicines of the future and be the catalyst for this work. GSK can play the integrating role that is needed to drive this new type of medical treatment all the way from the bench to the patient and this fund is a key part of our efforts.”
The fund intends to build a portfolio of five to seven companies over the next five years, focussing on investments 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
- Companies advancing technology platforms that will underpin these treatment modalities
At the same time as launching the fund, GSK’s bioelectronics R&D unit is offering up to 20 new exploratory research grants, seeking to integrate a broader research community and engaging with other funding and research organisations. A global bioelectronics summit is planned, at which GSK will launch a million dollar innovation prize.
The fund’s first investment is in SetPoint Medical, a US-based company which is creating implantable devices to treat inflammatory diseases.