The Google-backed life-extension company, Calico, announced today that it was partnering with Chicago-based pharmaceutical giant AbbVie to develop and bring to market new drugs targeting diseases associated with old age. Each partner has committed to providing $250 million in funding with the option to each add another $500 million to the project. The money will be used to create a new research center in San Francisco, where Calico will hire a team of researchers to discover new drugs and guide early development. AbbVie will focus more on the clinical trials, late-stage development, and bringing promising new drugs to market.
“Our relationship with AbbVie is a pivotal event for Calico, whose mission is to develop life-enhancing therapies for people with age-related diseases. It will greatly accelerate our efforts to understand the science of aging, advance our clinical work, and help bring important therapies to patients everywhere,” said Art Levinson, CEO and founder of Calico, and the former chairman and CEO of Genentech. [source]