Price tag for Biden cancer 'moonshot' at $1B in Obama budget

President Barack Obama will ask Congress for $755 million for cancer research in next year's budget, bringing the total price tag for Vice President Joe Biden's cancer initiative to $1 billion.

Obama will release his final budget proposal on Feb. 9. The White House says the funds are for new programs at the National Institutes of Health and the Food and Drug Administration. The $755 million would join another $195 million in new cancer funds Congress approved in December.

The funds would support research in immunotherapy, combination therapy, early detection and vaccines to prevent viruses that cause cancer.

Biden announced he'd launch a "moonshot" to cure cancer after his son died of brain cancer. He's chairing the first meeting of a new federal task force Monday. Obama plans to attend.