BG Medicine partners with Philips on biomarkers

BG Medicine of Waltham said it has arranged an alliance with Royal Philips Electronics under which the Dutch corporation will receive a minority stake in the Massachusetts biotechnology company.

The companies didn't give financial details. Philips will help BG develop ''biomarker sets'' and will receive preferential access to the products. Biomarkers are used in conjunction with advanced medical imaging devices to help diagnose medical conditions in tissue.

BG Medicine aims to develop biomarkers that can help doctors distinguish particular diseases, and even tell what stage the disease has reached and how it might be treated.

Founded in 2000, BG's original investors include Flagship Ventures of Cambridge and Gilde Investment Management, which like Philips is based on the Netherlands.
(By Ross Kerber, Globe staff)