Google’s project to extend life, Calico, announces $1.5 billion research center

Google’s health and antiaging startup, Calico, is teaming up with biotechnology drugmaker AbbVie in a joint venture that will try to develop new ways to treat cancer and other diseases. AbbVie and Calico announced a collaboration intended to help the two companies discover new therapies.
Under the agreement, the companies will combine their complementary strengths to accelerate the availability of new therapies for age-related diseases: Calico will use its scientific expertise to establish a world-class research and development facility, with a focus on drug discovery and early drug development; and AbbVie will provide scientific and clinical development support and its commercial expertise to bring new discoveries to market. “Our relationship with AbbVie is a pivotal event for Calico, whose mission is to develop life-enhancing therapies for people with age-related diseases. It will greatly accelerate our efforts to understand the science of aging, advance our clinical work, and help bring important therapies to patients everywhere,” said Art Levinson, CEO and founder of Calico.
AbbVie and Calico will each initially provide up to $250 million to fund the collaboration with the potential for both sides to contribute an additional $500 million (so $500 million now and possibly $1.5 billion). Calico will be responsible for research and early development during the first five years and continue to advance collaboration projects through Phase 2a for a ten-year period. AbbVie will support Calico in its early R&D efforts and, following completion of Phase 2a studies. Both parties will share costs and profits equally