30th Sep 2014 14:22
LONDON (Alliance News) - GlaxoSmithKline PLC Tuesday announced a USD5 million 'innovation challenge fund' to encourage and advance collaborative research in its efforts to develop bioelectronic medicines.
The fund will be used to support academic groups and small companies who want to develop solutions for its Bioelectronics Innovation Challenge. The funding is in addition to its previous commitment of a USD1 million awarded for the team that first solves the challenge.
Bioelectronic medicine refers to using miniaturised, implantable devised rather than pills or injections.
Shares in Glaxo were trading 0.4% lower at 1,415.00 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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