From staff reports

DURHAM -- The N.C. Biotechnology Center approved a $100,000 grant to explore the states readiness for a Center of Innovation to capitalize on the growing field of personalized medicine, according to an announcement from the center.

The center awarded the grant to a statewide consortium of business and academic institutions represented by Dr. Geoffrey Ginsburg, a Duke University professor of medicine, the executive director of the health systems Center for Personalized Medicine and director of genomic medicine in the Institute for Genome Sciences & Policy.

The grant will help the group develop a business plan for an independent Center of Innovation to accelerate the states efforts to commercialize personalized medicine, the announcement states.

If that plan is subsequently approved, it will trigger a four-year, $2.5 million Phase II grant to launch the future Center of Innovation.

Personalized medicine is a health-care model that uses information about an individuals genes, environment, lifestyle and personal preferences to tailor treatments, according to the announcement.

Its creating a new set of businesses providing a wide range of products and services including data collection and processing, diagnostics and therapeutics.

North Carolinas knowledge-based economy is well-positioned to take advantage of the coming growth in personalized medicine, said Mary Beth Thomas, vice president for the Center of Innovation Program at the center.

The center is a private, non-profit corporation supported by the N.C. General Assembly. Its mission is to provide long-term economic and societal benefits to the state by supporting biotechnology research, business, education and strategic policy

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Grant to aid planning of personalized medicine innovation center

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