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Google’s health spinoff Calico announces massive investment in treatments for the elderly
The Mercury News

In its first major step since its formation last year, Google’s life-science spinoff on Wednesday announced a partnership with drug giant AbbVie to build a “world-class” research and development facility in the Bay Area and spend up to $1.5 billion to develop treatments for age-related diseases.

Google’s Calico and AbbVie offered few insights about where the new facility would be located, its size and other details about their 10-year collaboration. But in a news release, the two companies said they each will spend up to $250 million initially, “with the potential for both sides to contribute an additional $500 million.” They also noted that “Calico expects to begin filling critical positions immediately, and plans to establish a substantial team of scientists and research staff.”