GlaxoSmithKline has launched Action Potential Venture Capital, a $50 million strategic venture capital fund that focuses on investing in companies pioneering bioelectronic medicines and technologies. The fund's first investment is in SetPoint Medical, a California-based company known for creating implantable devices to treat inflammatory diseases. Action Potential Venture Capital complements GSK's Bioelectronics R&D unit, which was established in 2012 to engage promising researchers in this emerging field. The fund aims to develop miniaturized devices that can read and modify electrical impulses in the body to treat a range of diseases, including inflammatory bowel disease, rheumatoid arthritis, asthma, COPD, and Type 2 diabetes. The fund plans to build a portfolio of five to seven companies over the next five years and will focus on investing in startups pursuing bioelectronic medicines, existing companies with technologies interacting with the peripheral nervous system, and companies advancing technology platforms for these treatment modalities. The fund will be based in Cambridge, Massachusetts and will be managed by a small, dedicated team.