US$1 billion for cancer R & D

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US$1 billion for cancer R & D

Biosimilars/News | Posted 04/11/2011 0 Post your comment

GE Healthcare, the health business of General Electric, provides advanced cancer diagnostic and molecular imaging capabilities, as well as technologies for the manufacture of biopharmaceuticals and for cancer research. Its presence at the European Multidisciplinary Cancer Congress 2011 in Stockholm indicated its commitment to strengthening cancer diagnosis and care. Similarly at the 53rd Annual American Society for Radiation Oncology Meeting in Miami Beach, Florida, USA, it was showcasing a number of new tools designed specifically for the needs of radiation oncologists.

Focus on biotechnology

The company announced on 16 September 2011 a 5-year plan that will expand its range of biomanufacturing technologies under a new oncology-focused investment project. GE Healthcare will spend US$1 billion (Euros 731 million) of its R & D budget on the development of new bioreactors, purification platforms and characterisation systems as well as on the further expansion of its diagnostics, molecular pathology, molecular imaging businesses and on technologies used in cancer research and for the manufacture of biopharmaceuticals.

Mr John Dineen, President and CEO, GE Healthcare, said ‘we are devoting an even greater share of our R&D budget to continue developing new oncology solutions.’

Further aspects of the strategy include GE Healthcare’s planned acquisition of cell culture media manufacturer PAA Laboratories and partnership with Sartorius Stedium Biotech (SSB). With PAA Laboratories GE can begin to offer manufacturers a much more integrated package with which to support their activities.

The SSB deal strengthens key patents for both companies’ biomanufacturing technology interests.

Source: GE Healthcare