Google owner Alphabet’s life services firm Verily is partnering with French drugmaker Sanofi to invest about $500 million in a diabetes joint venture that will combine devices with services.
Sanofi said Monday that over the last year it was working on a partnership with Google in diabetes and it has born fruit.
“The company will leverage Verily’s experience in miniaturized electronics, analytics, and consumer software development, with Sanofi’s clinical expertise and experience in bringing innovative treatments to people living with diabetes,” the two companies said in a statement on Monday.
A Sanofi spokesman also said that products produced from the venture would include connected objects such as insulin pens and online services.
With nearly 400 million cases of diabetes worldwide, type 2 accounts for more than 90 percent of the cases. Numbers are expected to substantially in the coming years. This is seeing more marriages between tradition pharma firms and tech-related enterprises.
The Sanofi deal comes just after a month after British drugmaker GlaxoSmithKline and U.S.-based Verily – formerly Google Life Sciences – created a new company focused on fighting diseases by targeting electrical signals in the body, jump-starting a novel field of medicine called bioelectronics, reports Reuters
The JV, called Onduo, “will initially focus on the type 2 diabetes community, specifically on developing solutions that could help people make better decisions about their day-to-day health, ranging from improved medication management to improved habits and goals,” Sanofi and Verily said.