Philips Research Press Release

Eindhoven, the Netherlands - Philips today announced that it has reached a development partnership agreement with BG Medicine, a privately held company based in Waltham, Massachusetts (US). Under the agreement Philips Research will collaborate with BG Medicine to advance Philips’ development of patient-centered diagnostics and personalized medicine. As a further part of this strategic agreement Philips will take a minority stake in BG Medicine.

The Philips-BG Medicine partnership is an extension of Philips’ existing molecular medicine research and development efforts. The collaboration gives Philips access to certain BG Medicine proprietary biomarker discovery and validation technologies, and associated services. Biomarkers are specific molecular or cellular components or events that indicate the presence of a disease, and may be used to tailor therapy to the individual patient. Validated biomarkers are key for the implementation of Philips’ molecular diagnostics technologies and molecular imaging solutions. They enable the detection of a given disease at an early stage, and can be used to monitor the effectiveness of the subsequent therapy.

“We are at the dawn of a new era in medicine where technology and biology are applied in conjunction to create a whole new generation of approaches to diagnosis and treatment with improved clinical outcomes,” said Rick Harwig, CTO of Philips. “The Philips-BG Medicine partnership brings together the important capabilities and resources that are required to execute our healthcare vision and strategy.”

“The convergence of technology and biology creates exciting new opportunities in healthcare,” said Pieter Muntendam, MD, President and CEO of BG Medicine. “The partnership announced today between Philips and BG Medicine provides a strategic foundation and framework for a series of joint initiatives in molecular medicine focused on important areas such as cardiovascular disease and oncology.”

The advancement of molecular medicine promises to revolutionize today’s healthcare practices by leading to earlier detection of health problems increasing the likelihood of treatment success and minimizing the severity or duration of an illness. In addition, customized treatment programs could increase effectiveness and comfort and ultimately accelerate and improve patient recovery outcomes.
 

For further information please contact:
 

Steve Klink
Communications Department Philips Research
Tel.: +31 40 27 43703
Mobile: +31 6 10888824
E-mail: steve.klink@philips.com

 

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lighting and consumer lifestyle, delivering people-centric, innovative products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 134,200 employees in more than 60 countries worldwide. With sales of EUR 27 billion in 2007, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, as well as lifestyle solutions for personal wellbeing. News from Philips is located at www.philips.com/newscenter.