Sanofi, the French pharmaceutical giant, and Google’s Life Sciences division Verily are teaming up on a new diabetes project called Onduo. The combined investment from both companies will be an estimated $500 million.
This new joint venture will be based in Cambridge, Massachusetts, where it will create a comprehensive disease management platform for patients suffering from diabetes, according to the official announcement.
Verily will contribute its expertise in miniaturized electronics, software development, and analytics to the project whereas Sanofi will offer its clinical expertise and proficiency in developing potent diabetes treatments.
The company’s statement tended to be vague, but it did note that its initial focus will be on the type 2 diabetes community. A plan to help individuals with type 1 diabetes would then be followed by at-risk patients who could eventually develop the disease.
“The integration of multiple interventions, such as data-driven patient support and devices in addition to treatment, can help improve outcomes, which is important from the perspective of patients, healthcare professionals and the overall healthcare system,” said Sanofi’s Peter Guenter, Executive Vice President, Head, Global Diabetes & Cardiovascular Business Unit, in a statement.
Ultimately, this venture could create an effective monitoring system that combines medical devices, software, pharmaceuticals and professional care, reported Reuters. A spokeswoman for Sanofi told the publication some potential products that could emerge from this startup may include internet-connected insulin pens and online services.
Verily has established partnerships with other pharmaceutical firms too. Last month, it announced it would work on a bioelectronics venture with GlaxoSmithKline that would treat patients suffering from chronic conditions like asthma or diabetes.
