GlaxoSmithKline raised its bet on using electrical signals in the body to target diseases on Thursday with the launch of a $50 million strategic venture capital fund.Britain's biggest drugmaker hopes to have the first medicine that effectively speaks the electrical "language" of the body ready for approval by the end of this decade.GSK said the new fund's first investment would be a $5 million stake in SetPoint Medical, a California company working on implantable devices to treat inflammatory diseases.In all, SetPoint has secured $27 million in fresh financing. Aside from GSK, it has also received cash from Boston Scientific , the venture capital arm of Covidien and existing investors.
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. Shares of BSX traded higher by 1.26% or $0.14/share to $11.25. In the past year, the shares have traded as low as $5.04 and as high as $11.49. On average, 19088800 shares of BSX exchange hands on a given day and today's volume is recorded at 2232043.
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