May 14, 2010 — A partnership to develop cardiovascular genomic diagnostic testing devices has been signed between GE Healthcare and CardioDx.
The GE Healthymagination Fund, a new equity fund that makes investments in highly promising healthcare technology companies, has invested $5 million in CardioDx. The alliance between the two companies aligns with GE’s healthymagination initiative, which focuses on reducing cost, increasing access and improving quality in healthcare. This marks the first investment for the Healthymagination Fund.
CardioDx develops genomic tests to aid in the assessment and tailoring of care of individuals with cardiovascular diseases such as coronary artery disease (CAD), cardiac arrhythmias and heart failure.
GE develops advanced technologies for cardiovascular imaging and monitoring. The companies hope the partnership will expanded their capabilities in product research and development and accelerate development of new, high-value technologies.
CardioDx’s initial product, Corus CAD, is a clinically validated noninvasive genomic test that uses data such as gene expression levels and other patient characteristics to assess the likelihood that a patient has obstructive coronary artery disease. Today, patients with suspected CAD are diagnosed through a combination of noninvasive and invasive procedures. Corus CAD uses a simple blood test to quantify the likelihood of CAD, helping cardiologists make more informed decisions on how best to diagnose and treat their patients.
The Healthymagination Fund is part of GE’s $6 billion healthymagination initiative, a global commitment to deliver better healthcare to more people at lower cost. The $250 million Healthymagination Fund targets three broad areas for investment:
• Broad-based diagnostics, including imaging, home health, patient monitoring, molecular diagnostics, pathology, novel imaging agents and other technologies for disease diagnosis.
• Health care information technology, including electronic medical records, clinical information systems, healthcare information exchanges and value-added data services.
• Life sciences, including tools for research and development in biopharmaceuticals and stem cells, and technologies for manufacturing of biopharmaceuticals and vaccines.
For more information: www.healthymaginationfund.com