Google is looking for the Fountain of Youth in its latest expansion beyond internet search.

The ambitious quest to reverse the ageing process and extend human life will be pursued by a new company called Calico that is being financed by Google, which has amassed a $US54 billion ($56.9 billion) stockpile primarily through its dominance of internet search and online advertising.

Google bicycles are shown at the Google campus in Mountain View, California.

Calico will be run by former Google board member Arthur Levinson, best known as the ex-chief executive of biotechnology pioneer Genentech. Levinson resigned from Google's board nearly four years ago after the US Federal Trade Commission opened an investigation into whether his overlapping role on Apple's board created conflicts of interest that might lessen competition between rivals. Levinson will remain chairman at Apple and Genentech while he runs Calico.

Google isn't disclosing how much money it will pour into Calico, but CEO Larry Page indicated that it won't be a major commitment. The comments are an apparent effort to placate investors who would prefer to see the company boost its profits even higher instead of pursue far-flung ventures that may never pay off.