GE Unit and Mayo Clinic Jointly Launch Vitruvian Networks

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GE Ventures, a venture capital subsidiary of General Electric Company GE , collaborated with Mayo Clinic, a nonprofit organization, to jointly launch Vitruvian Networks, Inc., an independent platform which will provide easy access to cell and gene therapies using advanced cloud-ready software systems and manufacturing services.

Vitruvian Networks will provide therapy producers state-of-the-art software and a manufacturing platform to bring the Internet of Things applications to cell and gene therapies. This system will provide powerful business intelligence and data analytics capabilities to therapeutic companies on the whole. Since cell and gene therapy involves a lot of time and the treatment varies from patient to patient, this advanced technology will help therapists treat their patients with ease using this advanced system. Using General Electric's expertise, this new system will enable faster and more accurate treatment for patients.

Initially the project will aim to produce autologous cell that focuses on curing blood cancer. This new company will develop the supporting standards, infrastructure, and ecosystem and provide advanced assistance to therapists and patients to combat blood cancer.

With the growing demand for various cancer treatments and the delay associated with such treatments, Vitruvian Networks looks to plug these concerns. This new company will help to figure out patients' criticality at the earliest and provide them with the right treatment.  

This new company will use Mayo Clinic's assistance in cell therapy processes and clinical results to develop personalized therapies for patients. Alongside, it will use the tools of GE Healthcare's cell therapy business to derive better outcomes.

Headquartered in Menlo Park, CA, GE Ventures focuses on areas such as software, advanced manufacturing, energy and health care. The company combines capital, technical and commercial expertise to provide great ideas that drive growth for its partners and General Electric. The prime goal of this company is to help entrepreneurs and startups accelerate their ideas by providing access to General Electric's global network of business, customers and partners.

General Electric carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry include 3M Company MMM , CLARCOR Inc. CLC and Carlisle Companies Incorporated CSL . All three carry a Zacks Rank #2 (Buy).

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Referenced Symbols: MMM , GE , CSL

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