BioNJ creates special diagnostics committee to focus on personalized medicine

The BioNJ Diagnostics Committee is launching a series of events under the theme "New Jersey Gets Personalized," being held throughout the state. These events are designed to highlight the work being done throughout the Garden State in personalized medicine and to facilitate increased partnerships and collaborations that unlock its potential to revolutionize drug development and improve patient care for millions of Americans.

On Thursday, September 16 2010, Ernst & Young and GE Healthcare sponsored a breakfast briefing entitled New Jersey Gets Personalized How Partnerships Create Value - Lessons Learned from Recent Deals at the Bridgewater Marriott. Speakers included Roomi Nusrat, MD, from Aesclepuis Sciences, Sal Salamone, CEO of Saladax Biomedical, and M. Hall Gregg, PhD, Vice President, Clinical Trials and International Operations from Quest Diagnostics. The breakfast briefing was facilitated by Pascal Yvon, PharmD, MBA, President, Biosciences Expansion, LLC. Presenters discussed the continued impressive growth of personalized medicine and diagnostics, and how they are working to advance the work being done in this area through partnerships and new product development.

"Between 2009 and 2015, experts predict that the market for personalized medicine will grow from $232 billion to $452 billion—almost doubling in size," said Pascal Yvon, PharmD, MBA, President, Biosciences Expansion, LLC.

BioNJ launched this series of events on July 21, 2010 with a webinar featuring life sciences industry visionary G. Steven Burrill, Chief Executive Officer of Burrill & Company, a life sciences merchant bank focused exclusively on companies involved in life sciences, including biotechnology, pharmaceuticals, diagnostics and personalized medicine. Mr. Burrill's presentation addressed the major changes taking place in healthcare as the result of personalized medicine and its enormous potential to change both the development of new products, the delivery of care and the lives of patients throughout the world.

"With its established base of leading global life science companies and a strong medical technology sector, New Jersey is well positioned to be a leader in the evolution of personalized medicine," said Debbie Hart, President of BioNJ.

"The innovation that will emerge in diagnostics from New Jersey based companies will ensure that our state remains the Medicine Chest of the World, and BioNJ is pleased to play a role in advancing the communication between sectors and companies," she said.

The BioNJ Diagnostics Committee is planning additional events focusing on personalized medicine, and will be announcing details for future events on the BioNJ web site.