Philips and the Institute of Health Sciences join forces in molecular medicine
Shanghai, China - Royal Philips Electronics (AEX:PHI, NYSE:PHG) and the Institute of Health Sciences (IHS) today announced an agreement to establish a joint research laboratory within the IHS in Shanghai, China. The IHS is part of the Shanghai Institutes for Biological Sciences (SIBS) and is also affiliated to the Shanghai Jiao Tong University School of Medicine. The joint laboratory will conduct advanced research in the field of molecular medicine.
Philips and the SIBS/IHS have signed a Memorandum of Understanding for a joint molecular medicine research program. The ultimate aim is to create new solutions for the early diagnosis of disease and for monitoring the effectiveness of subsequent treatment. Early diagnosis and personalized treatment will lead to increased comfort and better outcomes for patients. As part of this unique collaboration, Philips intends to locate a team of its own scientists at the joint research laboratory.
“This agreement to set up a joint research laboratory with the IHS in China is a prime example of the Open Innovation approach that Philips is taking in order to bring the many benefits of molecular medicine into patient care.” says Rick Harwig, CTO of Royal Philips Electronics. “As an international company with an ambition to provide healthcare solutions that are tailored to local needs, we are delighted to be partnering with a Chinese institute that within the space of a few years has become renowned for its life sciences research.”
“This collaboration will give us access to Philips’ global research organization, especially the European laboratories, and should serve as a good example for further European collaborations.” says Prof. Rongxing Gan, Vice President of SIBS. “The combination of our expertise in translational biomedical research and Philips’ expertise in advanced medical instrumentation will definitely accelerate the development of new healthcare solutions for the Chinese people as well as people around the world.”
In particular, research at the joint research laboratory will be aimed at biomarker discovery and test development for next-generation in-vitro diagnostic testing. Biomarkers are specific molecular compounds or molecular imbalances that indicate the presence of a disease. In-vitro diagnostic tests are clinical tests that are based on the detection of disease biomarkers in samples of body fluids such as blood, urine or saliva. Important application examples of next-generation in-vitro diagnostics are likely to include near-patient health monitoring at virtually every stage of clinical care, from routine screening right through to diagnosis, treatment and disease management.
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