GE Healthcare Announces 'Cancer Commitment', Innovation Challenge

GE Healthcare has announced that it, along with several government and organization partners, has made a major “cancer commitment” wherein it will dedicate $1 billion of its R&D budget over the next five years for cancer diagnostics and the launch of new technology and solutions. Specifically, the investment will fund the development of new oncology solutions, the extension of advanced technologies, and the continuation of research already in progress. Areas of focus will include biomarkers, molecular pathology, biopharmaceutical manufacturing, metabolic imaging, and the connected oncology workflow. The vendor has also launched a $100 million open innovation challenge to fund promising cancer detection and personalized treatment ideas. GE’s goal in this endeavor entails the integration of cancer imaging, diagnostics, pathology, health, and data technologies. Known as healthymagination, the challenge seeks to identify and bring to market ideas that advance breast cancer diagnostics. One key objective is to aid health care professionals in cultivating a better understanding of tumors associated with triple negative cancer and the molecular similarities between breast cancer and other solid tumors, thereby improving early detection, allowing for more accurate diagnoses, and ultimately helping physicians to formulate the best possible treatment decisions based on each patient’s unique cancer. The challenge was initiated in collaboration with leading venture capital firms Kleiner Perkins Caufield & Byers, Venrock, Mohr Davidow; and MPM Capital. The effort will also feature a special focus on data, in partnership with O’Reilly Media, whose CEO and founder, Tim O’Reilly, is a preeminent advocate of using data science to spur innovation. GE is also investing in the development of a first-in-kind “super database,” which will consolidate clinical, pathology, therapy, and outcomes data in one place to enable analysis and further accelerate innovation. This “super database” will be available in collaboration with leading cancer research, NGO, and government organizations, starting with relevant cancer data from GE’s Medical Quality Improvement Consortium; Clarient, a GE Healthcare Company; The Premier health care alliance; and the U.S. Department of Health & Human Services. To learn more about the R&D investments, click here: http://www.genewscenter.com/content/detail.aspx?ReleaseID=13136&NewsAreaID=2 To learn more about and/or enter the healthymagination challenge, click here: www.healthymagination.com/challenge