General Electric earmarks $100 millions for innovations in diagnosing and treating breast cancer
The call, geared towards researchers and companies, is open globally from now through 20 November 2011.
BY BIOCAT
General Electric Healthcare, with collaboration from several venture capital firms, has launched the Healthyimagination Challenge funding program, earmarking $100 millions for the development and launch to market of innovative ideas for early detection and personalized medicine for breast cancer. At the presentation of the program, CEO of this multinational company Jeff Immelt explained that they will invest more than $1 billion in R&D for new technology and solutions to diagnose and treat cancer over the coming five years.
The call is open to innovative researchers, entrepreneurs and companies in the healthcare sector. The winners, which will be announced in the first quarter of 2012, will be offered the opportunity to develop a commercial relationship with General Electric and four venture capital partners (Kleiner Perkins Caufield & Byers, Venrock, Mohr Davidow and MPM Capital), in addition to funding received.
An evaluation committee of international experts —including Andrew C. von Eschenbach, former FDA commissioner and director of the National Cancer Institute in the United States, and Michael J. Harsh Wauwatosa, vice-president and director of Technology at General Electric Healthcare— will determine the level of innovation, feasibility and impact of the projects presented.
The deadline for proposals is 20 November 2011.
