From being one of the world's largest tech companies and product innovators, Google is expanding its operations to cater to the medical industry, Tech Aeris reported.
Calico, a start-up firm funded by Google, has partnered with pharmaceutical research company AbbVie to develop drugs against diseases that affect elderly people.
Based in San Francisco, California, Calico was established by Google in 2013. The research and development company focuses on discovering new technologies that pertain to prolonging and controlling lifespan.
Together, Calico and AbbVie will spend an estimated amount of $1.5 billion in developing and marketing drugs designed to combat diseases such as cancer and Alzheimer's.
Although the estimated cost from the partnership might seem a bit much, the start-up's CEO Arthur Levinson explained it's a relatively small amount considering it will be used for the development of medical drugs, according to Chicago Tribune.
"The amount of money they're providing initially is not a small amount, but in the scope of drug development, it's on the smaller side," Levinson said. "I think we're kind of in the early stages of people actually perceiving Google as having a life sciences component."
Levinson added that Calico's partnership with AbbVie will help drive the progress of the start-up firm. Since the company has only been around for a year, Calico can learn a lot from AbbVie especially in the field of biopharmaceutical science.
"Our relationship with AbbVie is a pivotal event for Calico, whose mission is to develop life-enhancing therapies for people with age-related diseases," Arthur Levinson, the start-up's CEO said.
"It will greatly accelerate our efforts to understand the science of aging, advance our clinical work, and help bring important new therapies to patients everywhere," he continued.
As for AbbVie, chief executive Richard Gonzalez said the deal with Calico exemplifies the company's dedication in advancing its technological research to provide better medicinal services, Market Watch reported.
"The potential to help improve patients' lives with new therapies is enormous," he said. "[The partnership] demonstrates our commitment to exploring new areas of medicine and innovative approaches to drug discovery and development."