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NEW YORK (GenomeWeb) – The National Institutes of Health announced today that as part of President Obama's Precision Medicine Initiative it will award $142 million over five years to the Mayo Clinic to create a biobank for the PMI Cohort Program.

The Mayo Clinic will use the funds to collect, store, and distribute biospecimens to advance precision medicine research. The specimens will be sent to labs for a variety of tests, including genetic and chemical analyses.

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