Veracyte and GE Partner to Develop New Diagnostic Approaches

Molecular diagnostic company Veracyte, Inc. announced it is teaming up with GE to develop new diagnostic approaches to address unmet clinical needs.

Veracyte and GE announced a research collaboration to develop new solutions that can improve disease diagnosis. Veracyte will collaborate with GE Ventures, GE Healthcare and the GE Global Research Center to explore the feasibility of combining Veracyte’s genomic technology with GE Healthcare’s digital imaging technology. The companies hope to identify features from raw imaging data that, when combined with genomic information, have the potential to reveal useful, new information to further address unmet clinical needs.

“We are delighted to work with GE, a world leader in medical imaging, to explore the concept of deriving innovative diagnostic approaches from a combination of digital imaging and genomic technologies – with a goal of improving patient care and reducing healthcare costs,” said Bonnie H. Anderson, President and Chief Executive Officer of Veracyte. “This research opportunity is uniquely enabled by our vast database of clinical, imaging and genomic data, which we have assembled through the rigorous prospective, multicenter clinical trials used to develop and validate our genomic tests.”

GE Ventures, which helps entrepreneurs and start-ups succeed by providing GE’s technical expertise, capital and opportunities for commercialization, is an investor in Veracyte. It participated in Veracyte’s $28 million Series C financing completed in 2013.

The money was used to support commercial expansion of Veracyte’s first commercial solution, the Afirma Thyroid FNDA Analysis, which centers on the proprietary Afirma Gene Expression Classifier (GEC), to resolve ambiguity in diagnosis and is becoming a new standard of care in thyroid nodule assessment. Since launching its Afirma solution in 2011, Veracyte estimates that it has helped 15,000 patients with thyroid nodules avoid unnecessary surgery, thereby reducing healthcare costs by millions. The company plans on expanding its molecular cytology franchise to other clinical areas, starting with difficult-to-diagnose lung diseases.

“We’re excited to expand upon our partnership with Veractye’s industry leading team, and believe this research collaboration will help to further shape the new age of patient care and improve upon disease diagnosis,” said Ruchita Sinha, director of healthcare ventures, GE Ventures.

Source: Veracyte, Inc.

Last updated: 4/14/15; 12:10pm EST

Check Also

Natera Announces SMART Study Data for Aneuploidy and 22q Unblinded

SAN CARLOS, Calif., Sept. 2, 2020 /PRNewswire/ — Natera, Inc. (NASDAQ: NTRA), a pioneer and …

Leave a Reply

Your email address will not be published. Required fields are marked *