Foundation Medicine

Foundation Medicine, Inc. is an American company based in Cambridge, Massachusetts, which develops, manufactures, and sells genomic profiling assays based on next-generation sequencing technology for solid tumors, hematologic malignancies, and sarcomas.[2]

Foundation Medicine, Inc.
TypeSubsidiary
Headquarters
Cambridge, Massachusetts
,
United States
Key people
Brian Alexander (CEO)
ProductsFoundationOne CDx FoundationOne Liquid FoundationOne Heme Foundation Insights FoundationSmartTrials
RevenueIncrease $152.9 million (2017)[1]
OwnersRoche
Websitefoundationmedicine.com

History

Foundation Medicine was founded in Cambridge, Massachusetts.[3] The company was conceived after Broad Institute researchers Levi Garraway and Matthew Meyerson published a 2007 paper detailing a method for large-panel testing of 238 DNA mutations.[4]

Foundation Medicine launched in 2010 with a $25 million Series A financing led by Third Rock Ventures.[5] The company released its first commercial assay, or test, called FoundationOne in 2012.[6] The company also began partnering with pharmaceutical companies to analyze patient samples.[4] The first such program was piloted with Novartis in 2011,[5] and by 2018, the company had more than 30 partnerships.[7]

Foundation Medicine launched its second test, a hematological biomarker assay called FoundationOneHeme, in 2013.[8] The company held its initial public offering in August 2013.[9] The following year, Priority Health in Michigan became the first healthcare plan in the United States to cover the company's tests.[10]

In 2016, using FoundationCore data, Foundation Medicine released anonymized records detailing genomic data on cancers from 18,000 adult patients to the National Cancer Institute's (NCI) Genomic Data Commons (GDC) portal.[11]

In June 2018, Roche announced it would acquire Foundation Medicine.[12]

Foundation Medicine is now a subsidiary of Roche and It operates independently.[13]

Products

Foundation Medicine's products include genomic tests used to test solid tumors and blood-based cancers and sarcomas,[14] as well as data services.

  • FoundationOne CDx is a CGP test providing information for five tumor types: ovarian, lung, breast, colorectal, and melanoma.[15]
  • FoundationOne Liquid
  • FoundationOne Heme[8]
  • The company's FoundationCore database contains more than 300,000 genomic profiles sourced from the results of the company's assays as well as information on over 150 subtypes of cancer.[16]

References
  1. "Foundation Medicine Announces 2017 Fourth Quarter and Year-End Results, Recent Highlights and 2018 Outlook | Foundation Medicine".
  2. Staff (15 January 2015). "Cambridge startup soars on Roche stake". Business. The Boston Globe.
  3. Allan Maurer (September 28, 2017). "Foundation Medicine building RTP lab into key hub". WRAL TechWire. Retrieved 18 January 2018. Foundation, founded in Cambridge, Mass., in 2010
  4. Adrienne Burke (February 21, 2012). "Foundation Medicine: Personalizing Cancer Drugs". MIT Technology Review. Retrieved 18 January 2018.
  5. Julia Karow (April 13, 2011). "Foundation Medicine Developing Targeted Sequencing Test for 'Clinically Actionable' Cancer Genes". Genome Web. Retrieved 18 January 2018.
  6. Ron Winslow (January 12, 2015). "Roche Holding to Pay $1.03 Billion for Diagnostics-Firm Stake". The Wall Street Journal. Retrieved 18 January 2018.
  7. Julia Karrow (8 March 2018). "Foundation Medicine to Grow Clinical Testing, Pharma Business in 2018". GenomeWeb. Retrieved 18 June 2018.
  8. Julia Karow (December 11, 2013). "LabCorp Steps into NGS-based Oncology Market as Foundation Medicine Adds Hematologic Cancer Test". Genome Web. Retrieved 18 January 2018.
  9. Don Seiffert (December 4, 2014). "Foundation Medicine still growing a year after launching blood-cancer test". Boston Business Journal. Retrieved 18 January 2018.
  10. Don Seiffert (November 20, 2014). "Foundation Medicine's shares gain on flurry of good news ahead of earnings call". Boston Business Journal. Retrieved 18 January 2018.
  11. Constance Gustke (July 6, 2017). "Joe Biden's moonshot to crack the code on cancer, one of the biggest killers in America". CNBC. Retrieved 18 January 2018.
  12. Shields M, Hirschler B (19 June 2018). "Roche pays $2.4 billion for rest of cancer expert Foundation Medicine". Reuters.
  13. "Roche and Foundation Medicine reach definitive merger agreement to accelerate broad availability of comprehensive genomic profiling in oncology".
  14. Dr. Hung Tran (23 April 2018). "Foundation Medicine: To Profit From The Increasing Trend Of Personalized Treatment". Seeking Alpha. Retrieved 13 September 2018.
  15. Jonathan Saltzman (June 20, 2018). "Roche will pay $2.4 billion to complete its takeover of Foundation Medicine". The Boston Globe. Retrieved 13 September 2018.
  16. Alex Philippidis (January 16, 2018). "Pfizer Joins Foundation Medicine to Develop Cancer CDx". GEN. Retrieved 18 January 2018.
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