Philips and BG Medicine form alliance to develop molecular imaging and
13 August 2006
Waltham, Mass., USA. Royal Philips Electronics (NYSE:
PHG, AEX: PHI) and BG Medicine have formed a partnership to develop the next
generation of compounds for healthcare applications such as molecular
imaging and point-of-care diagnostics.
BGM's proprietary systems profiling technologies 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.
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."
advancement of molecular medicine through Systems Biology promises to
revolutionize the practice of healthcare by allowing earlier detection of
disease and drug response, thereby increasing the effectiveness of treatment
and minimizing the severity or duration of an illness. Molecular medicine is
also a keystone in developing individualized therapeutic treatments and
diagnostics for improved patient outcomes.