GE, Celera in Drug Research Venture

General Electric Co. said it was teaming up with Celera Genomics Group, the company that spearheaded the mapping of the human genome, to develop diagnostic tools that can speed drug research and help identify patients who are likely to respond to particular therapies.

The companies will first focus on the development of imaging agents, or chemicals, that would identify proteins on the surface of cells that Celera believes are associated with cancer.

Celera shares rose 46 cents to $11.26, and GE rose 43 cents to $32.60, both on the NYSE.