Google today announced Calico, a new company that will focus "on health and well-being," according to the company, and particularly on the challenge of aging and associated diseases. Arthur D. Levinson, Chairman and former CEO of Genentech and Chairman of Apple, will be Chief Executive Officer and a founding investor.

"Illness and aging affect all our families. With some longer term, moonshot thinking around healthcare and biotechnology, I believe we can improve millions of lives. It?s impossible to imagine anyone better than Art?one of the leading scientists, entrepreneurs and CEOs of our generation?to take this new venture forward," Larry Page, Google CEO said.

Art Levinson will remain Chairman of Genentech and a director of Hoffmann-La Roche, as well as Chairman of Apple.