As we described in an a post last month, in the State of the Union the President announced a new “Precision Medicine Initiative” to foster the development and delivery of personalized treatments for illnesses such as cancer and diabetes.  The FY 2016 budget released by the President yesterday includes $215 million in funding to launch the Precision Medicine initiative.

The HHS FY 2016 “Budget in Brief” describes the Precision Medicine initiative as a “cross-Department initiative to focus on developing treatments, diagnostics, and prevention strategies tailored to the individual genetic characteristics of each patient.”

According to the HHS Budget in Brief, $200 million of the proposed funding would go to NIH “to launch a national research cohort of a million or more Americans who volunteer to share their genetic information, expand current cancer genomics research, and initiate new studies on how a tumor’s DNA can inform prognosis and treatment choices.”  In addition, $10 million would go to FDA “to modernize the regulatory framework to aid the development and use of molecular diagnostics in precision medicine,” and $5 million would go to ONC to “develop technology and define standards and certification criteria to enable the exchange of genomic data.”

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Covington Digital Health Team

Stakeholders across the healthcare, technology and communications industries seek to harness the power of data and information technology to improve the effectiveness and efficiency of their products, solutions and services, create new and cutting-edge innovations, and achieve better outcomes for patients. Partnering with…

Stakeholders across the healthcare, technology and communications industries seek to harness the power of data and information technology to improve the effectiveness and efficiency of their products, solutions and services, create new and cutting-edge innovations, and achieve better outcomes for patients. Partnering with lawyers who understand how the regulatory, IP, and commercial pieces of the digital health puzzle fit together is essential. Covington offers unsurpassed breadth and depth of expertise and experience concerning the legal, regulatory, and policy issues that affect digital health products and services. To learn more, click here.