(Adds Apple's comment, background, shares)
April 12 Apple Inc has hired a team of
biomedical engineers as part of a secret initiative, initially
envisioned by late Apple co-founder Steve Jobs, to develop
sensors to treat diabetes, CNBC reported citing three people
familiar with the matter.
An Apple spokeswoman declined to comment.
The engineers are expected to work at a nondescript office
in Palo Alto, California, close to the corporate headquarters,
CNBC said. (cnb.cx/2nGgn9P)
The news comes at the time when the line between
pharmaceuticals and technology is blurring as companies are
joining forces to tackle chronic diseases using high-tech
devices that combine biology, software and hardware, thereby
jump-starting a novel field of medicine called bioelectronics.
Last year, GlaxoSmithKline Plc and Google parent
Alphabet Inc unveiled a joint company aimed at
marketing bioelectronic devices to fight illness by attaching to
U.S. biotech firms Setpoint Medical and EnteroMedics Inc
have already shown early benefits of bioelectronics in
treating rheumatoid arthritis and suppressing appetite in the
Other companies playing around the idea of bioelectronics
include Medtronic Plc, Proteus Digital Technology,
Sanofi SA and Biogen Inc.
The company's shares were marginally up after the bell on
(Reporting by Divya Grover in Bengaluru; Editing by Sandra
Maler and Lisa Shumaker)