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GE Healthcare Earmarks $1 Billion for Cancer R&D

GE Healthcare just announced that $1 billion of its total R&D budget through 2020 will be devoted to the development of oncology solutions. This funding will enable the company to expand its advanced cancer diagnostic and molecular imaging capabilities, as well as technologies used in cancer research and for the manufacture of biopharmaceuticals. Anne LeGrand, vice president and general manager of X-ray for GE Healthcare, shares her thoughts from yesterday’s media event, emphasizing the importance of this commitment in the ongoing fight against breast cancer

In related news, GE has launched $100 million open innovation challenge to bring to market ideas that advance targeted breast cancer diagnostics, helping doctors better understand and treat patients’ individual cancer. The goal is to positively impact 10 million patients across the globe by 2020.

“Cancer research and treatment is at a major tipping point, and we can no longer afford to act independently. We must think and act systemically and in concert with partners across the private sector, government, nonprofits and academia to knock down barriers and stretch our thinking,” said Andrew von Eschenbach, GE healthymagination Challenge judge and healthymagination advisory board member.