Google is to set up a health company led by Apple and Genentech chairman Art Levinson designed to develop technology which can help battle age-related illnesses, CEO Larry Page has announced.
The search engine giant was sketchy on the details of the company, but Page said it would be run separately from Google and the company will be called Calico.
“While this is clearly a longer-term bet, we believe we can make good progress within reasonable timescales with the right goals and the right people,” said Page, adding that the public should expect Google to venture further away from its roots in the future.
“Don’t be surprised if we invest in projects that seem strange or speculative compared with our existing internet business.”
He added: “And please remember that new investments like this are very small by comparison to our core business,” although according to a Reuters source, the investment in the new company is “significant”.
In May, Google co-founder Page pledged he would invest millions into “a significant research programme” after he revealed he had a nerve condition which can cause paralysis of the vocal chords, while fellow co-founder Sergey Brin believes he has a higher chance of developing Parkinson’s disease, which his mother had.