Veracyte, GE parnter to develop new solutions to improve disease diagnosis

Veracyte, Inc. (NASDAQ: VCYT), a molecular diagnostic company pioneering the field of molecular cytology, and GE today announced a research collaboration to develop new solutions that can improve disease diagnosis. Financial and other terms were not disclosed.

"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, Veracyte's president and chief executive officer. "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."

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. Through the agreement, Veracyte and GE aim to identify features from raw imaging data that, when combined with genomic information, have the potential to elucidate useful, new information to further address unmet clinical needs.

GE Ventures' director of healthcare ventures, Ruchita Sinha, added, "We're excited to expand upon our partnership with Veracyte'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." Ms. Sinha noted that GE Ventures is an investor in Veracyte.