President Joe Biden is set to reveal on Tuesday that he is allocating $150 million in fresh federal funds to advance technology aimed at assisting surgeons in the effective removal of cancerous tumors, according to the White House.

This funding, to be disclosed during a trip to New Orleans, represents the most recent investment in Biden's 'Cancer Moonshot' initiative, which is led by the president and the First Lady with the goal of cutting the US cancer mortality rate by at least half by 2047.

The White House noted that nearly two million Americans are diagnosed with solid tumor cancers annually, and surgical removal is frequently the initial step in their treatment. Innovative microscopes and imaging technologies are anticipated to enhance the efficacy of these surgeries, minimizing the necessity for repeated procedures and reducing harm to healthy tissues, thereby saving and prolonging lives.

In the first two years of the administration, over $400 million has been invested to expedite advancements in preventing, detecting, and treating cancer. The eight institutions receiving the awards include Dartmouth College, Johns Hopkins University, and the University of Washington, as per the White House.