Sanofi SA (ADR) (NYSE:SNY) and Alphabet Inc (NASDAQ:GOOGL) Verily Life Sciences, LLC have recently introduced a joint venture focusing on diabetes, Onduo.
Formation of Onduo
Primarily, Sanofi and Verily Life Sciences aim to improve the lifestyle of diabetes patients by developing innovative solutions and effective treatments through Onduo.
The company will tap the expertise of Sanofi in clinical development and of Verily Life Sciences in analytics, miniaturization, and software development.
“The integration of multiple interventions, such as data-driven patient support and devices in addition to treatment, can help improve outcomes, which is important from the perspective of patients, healthcare professionals and the overall healthcare system,” boasted Peter Guenter, Sanofi Executive Vice President (EVP) and Head of Global Diabetes & Cardiovascular Business Unit, about the new collaboration.
Spearheading the new joint venture is Joshua Riff, M.D., M.B.A., former UnitedHealth Group Inc (NYSE:UNH) Optum Senior VP (SVP) of Prevention and Wellbeing, as the CEO.
Riff has expressed that dealing with diabetes is burdensome in all aspects of life, which is exactly what Onduo seeks to address.
Presently, the main focus of Onduo is type 2 diabetes. It aims to develop solutions that can help type 2 diabetes patients to make better decisions on a daily basis. Eventually, the company will expand its core focus to help type 1 diabetes patients and those who can potentially develop diabetes, thereby preventing the illness.
Onduo has already teamed up with Allegheny Health Network of Western Pennsylvania and Sutter Health of Northern California for the initial testing of the Onduo platform among healthcare providers and type 2 diabetes patients alike.
According to Jessica Mega, M.D., M.P.H., Verily Life Sciences Chief Medical Officer (CMO), the partnership with the two healthcare facilities will be vital in the development of new innovative solutions for diabetes patients.
On Monday, Sanofi has closed at $38.66, up by 0.34%; Alphabet at $814.17, up by 1.68%; and UnitedHealth Group at $138.08, up by 1.04%.