GE Healthcare plans to dedicate $1 billion of its R&D budget during the next five years to expand its cancer diagnostic and molecular imaging capabilities, as well as its technologies for the manufacture of biopharmaceuticals and cancer research.

The investment is aimed at enabling GE to bring the most promising cancer ideas to market using technologies that improve accuracy of diagnosis to enable more effective treatment decisions.

“We are committed to tackling cancer. However, with a disease as complex and multifaceted as cancer, solutions need to be equally multifaceted and even more integrated, combining imaging, molecular diagnostics and healthcare IT,” said John Dineen, president and chief executive officer, GE Healthcare. “As one of the most relevant global cancer diagnostic companies, we are devoting an even greater share of our R&D budget to continue developing new oncology solutions.”