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September 4, 2014

No site picked yet for Google health R&D lab

  • The new joint venture will focus on treatments for cancer and Alzheimer's disease.

    • SAN FRANCISCO (AP) — Google's ambitious health startup is teaming up with biotechnology drugmaker AbbVie in a $500 million joint venture that will try to develop new ways to treat cancer and other diseases such as Alzheimer's.

    The alliance announced Wednesday calls for Google Inc. and AbbVie Inc. to each invest $250 million in the project. An additional $1 billion may be poured into the project. The two companies will split all expenses and any profits generated by the venture.


     
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