Search engine giant Google Inc said that it is planning to set up a brand new company Calico, which would be headed by Apple and Genentech Chairman Art Levinson. The new company will develop technologies in order to deal with health problems related to aging.
Calico will be run independently from Google – which is the largest Internet search engine – and will be concentrating on issues such as life-threatening diseases and problems which affect mental and physical agility due to aging. Larry Page, the company's Chief Executive in a post on September 18, 2013 wrote, “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”.
So far, the search engine has not provided any details regarding the new company, including its location and the number of employees. Google will be investing in Calico and this investment will enable the organization to financially support various projects.
Google is currently working on self-driving cars, wearable computers and air balloons which will help with wireless internet access in remote regions of the world. Page in his post also acknowledged that the new company seemed to diverge from what Google does today.
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