Google Forms New Company to Focus on Aging and Ill
Post# of 144503
Posted On: 09/18/2013 1:43:04 PM
Google Forms New Company to Focus on Aging and Illness 09/18 01:41 PM
Google Forms New Company to Focus on Aging and Illness 09/18 01:41 PM
Google Inc. (GOOG:$887.27,00$1.16,000.13%) on Wednesday said it will form Calico, a new company that will focus on the effects of aging and illness.
Apple Inc. (AAPL:$460.86,00$5.54,001.22%) Chairman Arthur D. Levinson will be a founding investor in the venture as well as its chief executive. He will remain chairman of both Apple (AAPL:$460.86,00$5.54,001.22%) and pharmaceutical company Roche Holding AG's (RHHVF:$257.10,00$2.96,001.16%) (RHHBY, ROG.VX, RO.EB) Genentech business, as well as a board member for Roche's (RHHVF:$257.10,00$2.96,001.16%) Hoffman-La Roche's unit.
"I've devoted much of my life to science and technology, with the goal of improving human health," Mr. Levinson said. Google (GOOG:$887.27,00$1.16,000.13%) CEO Larry Page's "focus on outsized improvements has inspired me, and I'm tremendously excited about what's next," Mr. Levinson added.
There were no indications of how much funding the new company will have or how many people it will employ, although Mr. Page said that "new investments like this are very small by comparison to our core business."
Mr. Page also added that Calico is still in its early stages, but that Mr. Levinson would provide an update when there are "more substantial" results.
"Illness and aging affect all our families," Mr. Page said. "With some longer term, moonshot thinking around healthcare and biotechnology, I believe we can improve millions of lives."
Class A shares of Google (GOOG:$887.27,00$1.16,000.13%) were up $2.88 to $888.99. The stock is up 26% this year.
Write to Michael Calia at michael.calia@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
09-18-131341ET
Copyright (c) 2013 Dow Jones & Company, Inc.
Get more news on:SYMBOLS: RHHVF, AAPL, GOOGNEWS TYPE: SECTORS: Health Care, Pharmaceuticals, Information Technology, Computers and Peripherals, IT Services
Google Forms New Company to Focus on Aging and Illness 09/18 01:41 PM
Google Inc. (GOOG:$887.27,00$1.16,000.13%) on Wednesday said it will form Calico, a new company that will focus on the effects of aging and illness.
Apple Inc. (AAPL:$460.86,00$5.54,001.22%) Chairman Arthur D. Levinson will be a founding investor in the venture as well as its chief executive. He will remain chairman of both Apple (AAPL:$460.86,00$5.54,001.22%) and pharmaceutical company Roche Holding AG's (RHHVF:$257.10,00$2.96,001.16%) (RHHBY, ROG.VX, RO.EB) Genentech business, as well as a board member for Roche's (RHHVF:$257.10,00$2.96,001.16%) Hoffman-La Roche's unit.
"I've devoted much of my life to science and technology, with the goal of improving human health," Mr. Levinson said. Google (GOOG:$887.27,00$1.16,000.13%) CEO Larry Page's "focus on outsized improvements has inspired me, and I'm tremendously excited about what's next," Mr. Levinson added.
There were no indications of how much funding the new company will have or how many people it will employ, although Mr. Page said that "new investments like this are very small by comparison to our core business."
Mr. Page also added that Calico is still in its early stages, but that Mr. Levinson would provide an update when there are "more substantial" results.
"Illness and aging affect all our families," Mr. Page said. "With some longer term, moonshot thinking around healthcare and biotechnology, I believe we can improve millions of lives."
Class A shares of Google (GOOG:$887.27,00$1.16,000.13%) were up $2.88 to $888.99. The stock is up 26% this year.
Write to Michael Calia at michael.calia@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
09-18-131341ET
Copyright (c) 2013 Dow Jones & Company, Inc.
Get more news on:SYMBOLS: RHHVF, AAPL, GOOGNEWS TYPE: SECTORS: Health Care, Pharmaceuticals, Information Technology, Computers and Peripherals, IT Services
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