The company signed separate agreements with AstraZeneca, Merck, Merck KGaA, and Pfizer to create the panel, which is expected to help speed drug development.
The company said it will use the proceeds of the financing to continue the development of a technology platform and associated applications.
China-based Burning Rock will develop cancer diagnostics for Chinese patients based on the Agilent SureSelect target enrichment system.
The partners will exchange all information they have on genetic mutations leading to cancer with an eye toward accelerating research and drug discovery efforts.
The company's diagnostic is being used to determine the eligibility of patients with solid tumors to participate in a Phase II trial of entrectinib.
The hospitals plan to use the Watson technology to help their clinicians personalize cancer treatment options for their patients.
The investment, which will be paid out over the course of five years, comes in part from industry sources.
The system will immune-profile the phenotypic and functional endpoints of cells and secreted proteins from cancer patients in order to inform treatment decisions.
The company said it plans to publish its findings on its early-detection cancer tests, and will work with CMS and the FDA on pre-market review.
Empire said it expects to generate $5 million or more in revenues from the Chinese market over the five-year term of the agreement with HemaTone.
In Science this week: metagenomic-based technique for determining protein structure, and more.
An academic laments the rise of narcissism in the sciences, the Guardian reports.
Outgoing FDA commissioner Robert Califf writes in an editorial that the agency can help boost innovation.
The Trump transition team has asked NIH Director Francis Collins to remain at his post, though it's unclear for how long that will be.