New Obama 2016 Budget to invest $215 million in 'Precision Medicine Initiative'

February 02, 2015
by Lauren Dubinsky, Senior Reporter
President Obama announced that in his 2016 budget a $215 million investment will be made into a new Precision Medicine Initiative to provide more personalized patient care. The initiative is intended to create a new model that "promises to accelerate biomedical discoveries and provide clinicians with new tools, knowledge, and therapies to select which treatments will work best for which patients."

Out of the investment $130 million will go to the National Institutes of Health (NIH), $70 million to the National Cancer Institute (NCI), $10 million to the FDA and $5 million to the Office of the National Coordinator for Health Information Technology (ONC).

The NIH will develop a voluntary national research cohort that will include health data from over a million Americans to gain a better understanding of health and disease. The NCI will accelerate its efforts to identify genomic drivers to develop more effective way to treat cancer.

The FDA will use the money to design databases that support the regulatory structure that is required for precision medicine and to protect public health. The ONC will be responsible for ensuring that there is a secure exchange of health data across systems.

In the past, patients were treated with a "one-size-fits-all approach" but now the industry is shifting to accommodate differences in patient's genes, environments and lifestyles. That will help physicians determine what treatments will be most effective for particular patients.