It is well-known that Steve Jobs spent $100,000 to learn his cancer’s genetic information hoping to find the most suitable medical treatments.
These tests were conducted by scientists from Foundation Medicine – a Boston-based diagnostics company counting Google and Bill Gates as investors.
Genetic testing has also been in the news more recently, with companies like 23andMe , a California-based personal genomics and biotechnology company that offers Personal Genome Service now with £149. Customers can request DNA collection kit on-line, send the kit to 23andMe and receive reports including information such as inherited conditions and genetic risk factors.
These are the examples of a concept called Precision medicine – a concept to segregate patients into subgroups based on genetic information, environment and lifestyles and to design treatments based on the subgroups.
This is a new technology that has become possible with recent technological developments.
Improved treatment outcomes, reduced side-effects and better disease prevention are the examples of potential advantages of Precision medicine. There are still some challenges for this new sector, such as improving accuracy of treatments and protecting patients’ privacy, it is also receiving more attention.
To accelerate this trend, Barack Obama announced a plan to invest $215m in “Precision Medicine Initiative” in Jan 2015.
Precision medicine has a possibility to change the landscape of Healthcare for patients, healthcare business owners, entrepreneurs and investors.
For those who are curious about this topic, you are warmly welcome to attend the;
London Business School Healthcare Conference
21st November 2016 at the Royal College of Physicians
6pm to 10pm
There will be an exciting and diverse line-up of speakers from pharmaceutical companies, government, bio-pharma/tech start-ups and consultants in the field will discuss much more about the latest progresses of Precision medicine and its situation in the UK.