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Google sister company and drug giant chip in another $1 billion to cure age-related diseases

Key Points
  • The additional contributions bring Calico's total funding to $2.5 billion.
  • Under the agreement, Calico is responsible for research and early development until 2022 and will be responsible for Phase 2a trials through 2027.
  • Aging is an attractive area in the biotechnology space as companies look for ways to ease the challenges that come with growing old.

Google sister company Calico and drug giant AbbVie are chipping in another $1 billion to cure diseases associated with aging, the companies said Tuesday.

Alphabet's Calico and AbbVie first partnered in 2014 to combat age-related diseases, including cancers and neurodegenerative diseases. The additional contributions bring Calico's total funding to $2.5 billion.

Aging is an attractive area in the biotechnology space as companies look for ways to ease the challenges that come with growing old. The Food and Drug Administration does not consider aging a disease, so some companies are tackling diseases associated with it rather than aging itself.

Together, AbbVie and Calico have produced more than two dozen early-stage programs focused on diseases in oncology and neurosciences.

Under the agreement, Calico is responsible for research and early development until 2022 and will be responsible for Phase 2a trials through 2027. After that, AbbVie will have the option to manage late-stage development. AbbVie will help lead commercialization efforts.

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Larry Page provides new insight into Alphabet's health ambitions

Key Points
  • Larry Page highlights an initiative in health that uses machine learning.
  • Its investments in machine learning are already yielding "significant dividends," he says.
  • Page refers to Calico, its mysterious anti-aging effort, as a "research and development company," which suggests it is focused on basic science.