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Europe's IMI Plans $230M Life Sciences Spending

NEW YORK (GenomeWeb News) – The Innovative Medicines Initiative, a European public-private funding partnership between the European Commission and the European pharmaceutical industry, plans to spend €156.3 million ($228 million) to support a range of life sciences research.

IMI has listed its priority research areas for funding its second call, including studies that will seek to develop new molecular biomarkers for accelerating cancer therapy development, rapid point-of-care diagnostic tests for bacterial diagnosis, imaging biomarkers for cancer drug development, and new target validation tools for oncology.

The funding includes €768 million from the European Commission and €79.5 million from European pharmaceutical companies.

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