Chicago/Boston — July 6, 2021: GE Healthcare and SOPHiA GENETICS today announced that they have signed a letter of intent to collaborate on advancing cancer care, with the goal of better targeting and matching treatments to each patient’s genomic profile and cancer type, helping to ensure the most effective and personalized treatment.
The companies aim to develop new artificial intelligence (AI)-powered analytics and workflow solutions to serve both the clinical and biopharma markets. They’ll be deploying GE Healthcare’s extensive medical imaging and monitoring capabilities and Edison platform-enabled data aggregation with the SOPHiA DDMTM cloud-based software-as-a-service analytics genomic insights platform and related solutions, which are available in more than 750 hospitals, laboratories and biopharma companies.
GE Healthcare has deep expertise in clinical workflows, deep learning AI algorithms for image reconstruction and image segmentation, analytics and standardization, while SOPHiA GENETICS is a pioneer in data-driven medicine. Their cloud-based software-as-a-service analytics platform uses AI and machine learning to generate actionable insights for clinicians and researchers from complex multimodal datasets. The companies aim to break down the data silos across instruments and sites that so often delay or even prevent patients from getting the most appropriate treatment both in cancer and in other diseases.
As cases of cancer continue to rise and are predicted to reach 29.5 million new cases per year by 2040, (https://www.cancer.gov/about-cancer/understanding/statistics) there is a growing demand for data-driven medicine, both for clinical practice and clinical trials. GE Healthcare is utilizing its Edison platform to integrate data from diverse sources, such as electronic health records (EHR) and radiology information systems (RIS), imaging and other medical device data. This integrated data can be used to develop and deploy AI enabled solutions to help simplify oncology patient workflows, better understand increasingly complicated clinical patient data, and compare data from patient to patient.
“The integration of genomics-based artificial intelligence into oncology workflow solutions would be a major breakthrough for integrated cancer medicine and for future clinical research, which increasingly depend on the ability to select those patients most likely to respond to new therapies,” said Jan Makela, President & CEO, Imaging at GE Healthcare. “This collaboration represents another step in GE Healthcare’s vision of making precision health—more efficient and personalized care— a reality.”
“By bringing together our global platform and insights-sharing network with GE Healthcare’s international reach and cutting-edge products, healthcare professionals will be able to leverage their expertise and work together for the benefit of patients all over the world. Cancer patients will be able to receive equal access to better diagnoses and treatments through secure data pooling and knowledge sharing, unlocking the promise of data-driven medicine at scale,” said Jurgi Camblong, co-founder and CEO, SOPHiA GENETICS.
Next-generation sequencing (NGS) is rapidly becoming a new standard of care in cancer diagnostics, particularly as novel therapies require genomic information to be prescribed in a personalized way. Today, these sets of information and insights are often bespoke and difficult for clinicians to easily and quickly obtain and recall along the patient care journey.
About GE Healthcare:
GE Healthcare is the $18 billion healthcare business of GE (NYSE: GE). As a leading global medical technology, pharmaceutical diagnostics and digital solutions innovator, GE Healthcare enables clinicians to make faster, more informed decisions through intelligent devices, data analytics, applications and services, supported by its Edison intelligence platform. With over 100 years of healthcare industry experience and around 50,000 employees globally, the company operates at the center of an ecosystem working toward precision health, digitizing healthcare, helping drive productivity and improve outcomes for patients, providers, health systems and researchers around the world.
About SOPHiA GENETICS:
SOPHiA GENETICS is a healthcare technology company dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM™ Platform, a cloud-based SaaS platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM™ Platform and related solutions, products and services are currently used by more than 750 hospital, laboratory and biopharma institutions globally.
Certain statements made in this press release are “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook” and “intend” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from GE’s or SOPHiA GENETICS’ expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the inability of the parties to negotiate and execute definitive agreements, on terms consistent with those in the letter of intent, or at all; the inability to meet the objectives, goals and targets contemplated by the letter of intent or any related definitive agreement; costs related to the proposed collaboration; the current size and future growth, if any, of the addressable market of the proposed collaboration, in particular in the field of oncology, including the number of cases of cancer; changes in applicable laws or regulations; other economic, business and/or competitive factors; the effect of the COVID-19 pandemic on the parties and their ability to enter into and fulfil their respective obligations under any definitive agreement; as well as the risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by the parties, if any.
The forward-looking statements contained in this press release are made as of the date of this press release, and neither GE nor SOPHiA undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
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