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Calico and AbbVie Add $1 Billion to Anti-Aging Joint Venture

Leukaemia blood cells.

Source: Science Photo Library/STEVE GS/Brand X via Getty Images

AbbVie Inc. and Google-backed Calico Life Sciences LLC will each add another $500 million into a research collaboration looking for new treatments for age-related diseases such as neurodegeneration and cancer.

The new money builds on the $1.5 billion the companies put into the effort in 2014. Under the collaboration, Calico heads up discovery-stage research and proof-of-concept work, with AbbVie taking the reins to bring new drugs through major clinical trials and commercialization. Calico was founded in 2013 with backing from Google, now known as Alphabet Inc.