Dana-Farber Cancer Institute is planning to celebrate the start of construction for its new Molecular Cancer Imaging Facility with a “sledgehammer” ceremony on the Dana-Farber harbor campus in South Boston’s Innovation District. 

The sledgehammer event is scheduled for Wednesday morning.

Expected to open in late 2014, the Molecular Cancer Imaging Facility will develop new molecular imaging probes to allow doctors to better diagnose and characterize cancer, choose targeted therapies, monitor treatment efficacy, and improve the outcomes of cancer patients, the institute said. The Molecular Cancer Imaging Facility complements the existing Lurie Family Imaging Center by harnessing the latest imaging technology.

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The new facility is being funded in part by a $10 million grant from the Massachusetts Life Sciences Center, the agency charged with implementing Governor Deval Patrick’s state-funded 10-year, $1-billion initiative to invest in the state’s life sciences industry.