Philips and BG Medicine Form Alliance for Molecular Medicine Research and Development
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Royal Philips Electronics and BG Medicine have established an alliance in the field of Systems Biology.
Under the partnership agreement BG Medicine will collaborate with Philips to develop the next generation of molecular healthcare products for application in areas such as molecular imaging and point-of-care diagnostics.
Key to the alliance is BGM's proprietary systems profiling technologies that identify biomarker sets associated with disease stage, progression and treatment.
BG Medicine has granted Philips preferential access to certain of its proprietary technologies and services, and Philips has acquired a minority stake in BG Medicine, which is privately-held and based in Waltham, Massachusetts.
"We are at the dawn of a new era in medicine where technology and biology are applied in conjunction to create a whole new generation of approaches to diagnosis and treatment with improved clinical outcomes," said Rick Harwig, CTO of Philips.
"The Philips-BG Medicine partnership brings together the important capabilities and resources that are required to execute our healthcare vision and strategy."
"The convergence of technology and biology creates exciting new opportunities in healthcare," said Pieter Muntendam, MD, President and CEO of BG Medicine.
"The partnership announced today between Philips and BG Medicine provides a strategic foundation and framework for a series of joint initiatives in molecular medicine focused on important areas such as cardiovascular disease and oncology."
