Philips Strengthens Collaboration with Leading Medical and Academic Institutions to Innovate in Personalized Health Solutions
Bringing on Phillips Healthcare Research as the anchor tenant at BioInc@NYMC is a true game changer
Philips North America
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Co-locates Philips Intellispace Genomics R&D team within New York Medical College to advance solution for Precision Medicine for Cancer Treatment
Cambridge, MA, December 6, 2016 – Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it is co-locating researchers from its Philips Intellispace Genomics team with New York Medical College (NYMC), one of the oldest and largest health sciences universities in the country, and a long-standing collaborator in the creation of the Philips IntelliSpace solution for oncology genomics. Located in Westchester, New York, the Philips team will be sharing space at the NYMC new biotechnology incubator, BioInc@NYMC and working on collaborative computational genomics of large data sets. This not only supports Philips work in personalized cancer care, but it also builds on Philips Research North America’s efforts to cross-pollinate with leading academic institutions, helping to develop innovations that can address society’s most pressing healthcare challenges and deliver on the company’s vision of improving the lives of three billion people by 2025.
Philips’ IntelliSpace Genomics is a configurable, scalable and secure healthcare informatics solution across hospitals for delivering real-time, actionable diagnostic information to physicians and specialists for therapy planning at the point of care. Philips IntelliSpace Genomics’ collaborative solution enables physicians to answer key clinical questions by leveraging the best clinical expertise and algorithmic power in integrated workflows. It seamlessly brings data from multiple sources, including raw sequencing data, up-to-date in silico genomic databases, clinical data and knowledge databases, longitudinal patient records, medical images and pathology data, among others.
“Bringing on Phillips Healthcare Research as the anchor tenant at BioInc@NYMC is a true game changer – for the college, Westchester County and beyond. The positioning of nine innovative companies alongside such a notable name in healthcare research will add to the already impressive track record of our start-ups and the medical solutions they develop,” said Randi D. Schwartz, M.B.A., Director of BioInc@NYMC and Associate Dean for academic administration.
"BioInc@NYMC is a thriving member of both the Westchester and the greater New York innovation ecosystem. We are excited to announce Phillips Healthcare Research as our biotech/high-tech incubator's new anchor tenant. The computational genomics collaboration between NYMC and Philips promises both research and economic benefits. Philips Healthcare Research and BioInc@NYMC's other clients are working every day to develop novel technologies and healthcare solutions," said D. Douglas Miller, M.D., C.M., M.B.A., Dean of the School of Medicine at New York Medical College, Vice-Provost for Biomedical Affairs and Chief Scientific Officer of BioInc@NYMC.
Working from space on the NYMC campus allows Philips to collaborate more closely with its innovation partners at the College and their affiliated teaching hospital, Westchester Medical Center, a member of Westchester Medical Center Health Network (WMCHealth). WMCHealth has also launched a new precision medicine initiative for personalized cancer treatment, which will leverage Philips’ IntelliSpace Genomics solution as one of the first partners to integrate large-scale genomic analysis with extensive patient clinical data.
“In order to create technologies that can have a meaningful impact on human health and enable us to focus on building a healthy society, we need to work closely with leading healthcare institutions to co-create outcome-based solutions,” said Hans-Aloys Wischmann, Head of Philips Research Americas. “No single company will be able to create the solutions needed, it will take collaborative efforts, and we believe that working with academic institutions like New York Medical College will provide tremendous opportunities to shape a totally new approach to the delivery of healthcare.”
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2015 sales of EUR 16.8 billion and employs approximately 70,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
About New York Medical College
Founded in 1860, NYMC is one of the oldest and largest health sciences colleges in the country with more than 1,400 students, 1,300 residents and clinical fellows, nearly 3,000 faculty members, and 16,000 living alumni. The College, which joined the Touro College and University System in 2011, is located in Westchester County, New York, and offers advanced degrees from the School of Medicine, the Graduate School of Basic Medical Sciences, and the School of Health Sciences and Practice. With a network of affiliated hospitals that includes large urban medical centers, small suburban clinics and high-tech regional tertiary care facilities, NYMC provides a wide variety of clinical training opportunities throughout the tri-state region for medical students, residents, and other health providers.