GE Will Invest In Cancer Diagnostics

GE Healthcare will spend $1 billion, or about 15%, of its R&D budget over the next five years to expand its cancer diagnostic and molecular imaging capabilities. The company will also develop technologies for cancer research and biopharmaceutical manufacturing. “The only way we can help clinicians beat cancer is to give them the tools to find it earlier, stage it better, and quantitatively measure response to therapy,” says GE Healthcare Chief Technology Officer Michael J. Harsh. At the same time, GE and several venture capital firms will fund a $100 million open innovation challenge to come up with breast cancer diagnostics.