Foundation Medicine
 | |
| Traded as | NASDAQ: FMI |
|---|---|
| Headquarters | Cambridge, Massachusetts, United States |
Key people |
|
| Products | FoundationOne Heme |
| Owners | Hoffmann-La Roche (56%, 2015) |
Number of employees | 275 (Dec 2014) |
| Website | Official website |
Foundation Medicine, Inc. is a public American company based in Cambridge, Massachusetts which develops, manufactures and sells genomic analysis diagnostics for solid and circulating cancers.[1] The company's tests are based on next-generation sequencing technology.[2]
Foundation Medicine went public in August 2013;[3] its stock is traded on the New York Stock Exchange under the symbol FMI.[4]
As of December 2014, the company had 275 employees.[3]
The company's flagship product was FoundationOne, the FoundationOne Heme diagnostic test being for blood cancers.[5]
In November and December 2014, the company established agreements with COTA (Cancer Outcomes Tracking and Analysis) and Flatiron Health, respectively, aimed at increasing the volume of genomic and clinical patient data available to it.[3][5] In 2015, Roche announced a plan to purchase a 56.3% stake in the company through a US$780,000,000 purchase of newly issued shares.[6] Roche also announced an intention to invest US$400,000,000 toward Foundation Medicine's operations, development and R&D activities.[6]
Foundation Medicine also has business agreements with Johnson & Johnson and Novartis.[6]
The company's chief executive officer (CEO) is Michael J. Pellini.[4] The company's chief operating officer (COO) is Steve Kafka.[3] The company's chief commercial officer (CCO) is David Daly.[3]
See also
References
- ↑ Staff (15 January 2015). "Cambridge startup soars on Roche stake". Business. The Boston Globe.
- ↑ Staff (9 January 2015). "Foundation Medicine on the Added Value of NGS Cancer Tests". Clinical Informatics News. Needham, Massachusetts, United States: Cambridge Healthtech Institute.
- 1 2 3 4 5 Seiffert, Don (3 December 2014). "Foundation Medicine still growing a year after launching blood-cancer test". Boston Business Journal.
- 1 2 Byerly, Max (19 January 2015). "Foundation Medicine Receives $42.00 Consensus PT from Analysts (NYSE:FMI)". Ticker Report. Sandyville, West Virginia, United States.
- 1 2 Seiffert, Don (4 November 2014). "Foundation Medicine's shares gain on flurry of good news ahead of earnings call". Boston Business Journal.
- 1 2 3 Zacks Equity Research (14 January 2015). "Roche to Acquire Up to 56% Interest in Foundation Medicine". Analyst Blog. Zacks Investment Research.