Foundation Medicine

Foundation Medicine, Inc.
Headquarters Cambridge, Massachusetts, United States
Key people
  • Troy Cox (CEO)[1]
  • Jason Ryan (CFO)[1]
  • Tom Civik (CCO)[1]
  • Melanie Nallicheri (CBO)[2]
Products FoundationOne FoundationOneHeme FoundationACT FoundationOne CDx Foundation Insights FoundationSmartTrials
Owners Roche
Website Official website

Foundation Medicine, Inc. is a public 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.[3]

In addition to its Cambridge headquarters, the company has laboratory facilities in Penzberg, Germany[4] and Morrisville, North Carolina.[5]

History

Foundation Medicine was founded in Cambridge, Massachusetts.[6] The company was conceived after Broad Institute researchers Levi Garraway and Matthew Meyerson published a 2007 paper detailing an efficient method for large-panel testing of 238 DNA mutations.[7]

Foundation Medicine launched in 2010 with a $25 million Series A financing led by Third Rock Ventures.[8] The company released its first commercial assay, or test, called FoundationOne in 2012.[9] The company also began partnering with pharmaceutical companies to analyze patient samples.[10] The first such program was piloted with Novartis in 2011,[11] and by 2018, the company had more than 30 partnerships.[12]

Foundation Medicine launched its second test, a hematological biomarker assay called FoundationOneHeme, in 2013.[13] The company held its initial public offering in August 2013.[14] The following year, Priority Health in Michigan became the first healthcare plan in the United States to cover the company’s tests.[15]

In June, 2018, Roche announced it would acquired Foundation Medicine.[16]

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.[17] In December 2017, the company’s assay FoundationOne CDx received approval from the FDA and a initial National Coverage Determination (NCD) from the Centers for Medicare & Medicaid Services (CMS).[18]

Products

Foundation Medicine’s products support personalized medicine and precision medicine and include genomic tests used to test solid tumors and blood-based cancers and sarcomas,[19] as well as data services that are designed to help pharmaceutical companies develop and test new personalized medicines.[20]

Clinical products

  • FoundationOne is a genomic profiling (CGP) test that is used in solid tumors.[21]
  • FoundationOneHeme is a CGP assay for hematologic cancers and sarcomas that employs both DNA and RNA sequencing.[22]
  • FoundationACT is a blood-based circulating tumor DNA (ctDNA) assay for use with solid tumors.[23][24]
  • FoundationOne CDx is a CGP test that can be used with all solid tumors and includes several companion diagnostics providing information for five tumor types: ovarian, lung, breast, colorectal, and melanoma.[25]

Technology and data services

  • The company’s FoundationCore database[26] contains more than 200,000 genomic profiles sourced from the results of the company’s assays.[27] The database also includes information on 150 subtypes of cancer.[28]

References

  1. 1 2 3 "Foundation Medicine's (FMI) CEO Troy Cox on Q1 2018 Results - Earnings Call Transcript". SeekingAlpha. Retrieved 1 July 2018.
  2. ↑ Jonathan Saltzman (30 November 2017). "Cambridge firm has high hopes for diagnostic test for cancer". The Boston Globe. Retrieved 18 June 2018.
  3. ↑ Staff (15 January 2015). "Cambridge startup soars on Roche stake". Business. The Boston Globe.
  4. ↑ Julia Karow (August 3, 2016). "Foundation Medicine Pursuing Multiple Strategies to Expand Reimbursement for Clinical Tests". Genome Web. Retrieved 18 January 2018.
  5. ↑ Allan Maurer (September 28, 2017). "Foundation Medicine building RTP lab into key hub". WRAL TechWire. Retrieved 18 January 2018.
  6. ↑ 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
  7. ↑ Adrienne Burke (February 21, 2012). "Foundation Medicine: Personalizing Cancer Drugs". MIT Technology Review. Retrieved 18 January 2018.
  8. ↑ Julia Karow (April 13, 2011). "Foundation Medicine Developing Targeted Sequencing Test for 'Clinically Actionable' Cancer Genes". Genome Web. Retrieved 18 January 2018.
  9. ↑ Ron Winslow (January 12, 2015). "Roche Holding to Pay $1.03 Billion for Diagnostics-Firm Stake". The Wall Street Journal. Retrieved 18 January 2018.
  10. ↑ Adrienne Burke (February 21, 2012). "Foundation Medicine: Personalizing Cancer Drugs". MIT Technology Review. Retrieved 18 January 2018.
  11. ↑ Julia Karow (April 13, 2011). "Foundation Medicine Developing Targeted Sequencing Test for 'Clinically Actionable' Cancer Genes". Genome Web. Retrieved 18 January 2018.
  12. ↑ Julia Karrow (8 March 2018). "Foundation Medicine to Grow Clinical Testing, Pharma Business in 2018". GenomeWeb. Retrieved 18 June 2018.
  13. ↑ 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.
  14. ↑ Don Seiffert (December 4, 2014). "Foundation Medicine still growing a year after launching blood-cancer test". Boston Business Journal. Retrieved 18 January 2018.
  15. ↑ 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.
  16. ↑ Shields M, Hirschler B (19 June 2018). "Roche pays $2.4 billion for rest of cancer expert Foundation Medicine". Reuters.
  17. ↑ 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.
  18. ↑ "Medicare Will Cover Advanced Genetics Testing in Cancer Patients". Medscape. March 19, 2018. Retrieved 13 September 2018.
  19. ↑ Dr. Hung Tran (23 April 2018). "Foundation Medicine: To Profit From The Increasing Trend Of Personalized Treatment". Seeking Alpha. Retrieved 13 September 2018.
  20. ↑ "Company Overview of Foundation Medicine, Inc". Bloomberg News. Retrieved 1 July 2018.
  21. ↑ Don Seiffert (December 4, 2014). "Foundation Medicine still growing a year after launching blood-cancer test". Boston Business Journal. Retrieved 18 January 2018.
  22. ↑ 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.
  23. ↑ Emmie Martin (June 13, 2016). "Meet the top 100 business visionaries creating value for the world". Business Insider. Retrieved 13 September 2018.
  24. ↑ Jason Harris (September 5, 2018). "Rafametinib/Sorafenib Combo May Improve Survival in RAS-Mutated HCC". Targeted Oncology. Retrieved 13 September 2018.
  25. ↑ 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.
  26. ↑ Alex Philippidis (January 16, 2018). "Pfizer Joins Foundation Medicine to Develop Cancer CDx". GEN. Retrieved 18 January 2018.
  27. ↑ Shanthi Rexaline (February 15, 2018). "Foundation Medicine Set For 'Material Upside,' Cowen Says In Bullish Initiation". Yahoo! News. Retrieved 29 June 2018.
  28. ↑ Alex Philippidis (January 16, 2018). "Pfizer Joins Foundation Medicine to Develop Cancer CDx". GEN. Retrieved 18 January 2018.

Official website

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