In his fiscal 2016 budget, US President Barack Obama has proposed $215 million to fund the Precision Medicine Initiative. Of the total, $130 million would be for the NIH to gather at least one million volunteer research participants. The National Cancer Institute would receive $70 million to increase its efforts to discover genetic determinants of cancer and to develop more-effective treatments. The FDA would get $10 million to develop and maintain databases to allow regulation protecting public health and advancing progress in precision medicine. The FDA would also work on a new approach to next-generation sequencing that will generate accurate, reliable identification of genetic factors important to caring for patients. The Office of the National Coordinator for Health Information would be funded $5 million to protect patient privacy and allow secure data exchange. To carry out the initiative, the Administration will promote public-private partnerships that will include researchers, medical centers, patients, medical-product producers and privacy experts.

Source: The White House