Foundation Medicine

Notes

Foundation Medicine is a pioneer in comprehensive genomic profiling (CGP) for cancer patients. The company developed FoundationOne CDx, the first FDA-approved broad companion diagnostic that analyzes over 300 cancer-related genes to identify molecular alterations driving a patient's cancer and match them to targeted therapies and immunotherapies.

Acquired by Roche in 2018 for $2.4 billion, completing Roche's majority ownership (Roche had acquired 56.3% stake in 2015). The acquisition positioned Roche as a leader in personalized cancer medicine.

Foundation Medicine's tests are used by oncologists worldwide to guide treatment decisions, identify clinical trial opportunities, and advance cancer research. Their products include FoundationOne CDx (solid tumors), FoundationOne Liquid CDx (liquid biopsy), and FoundationOne Heme (hematologic malignancies).

Team (Current)

• Steve Kafka, Ph.D. - CEO (appointed 2023)
• Michael Pellini, M.D. - Former CEO (2011-2017)
• Troy Cox - Former CEO (2017-2023)

Additional Research Findings

• Founded in 2010 in Cambridge, Massachusetts
• IPO in September 2013 on NASDAQ
• Acquired by Roche in 2018 for $2.4 billion
• FoundationOne CDx: first FDA-approved broad CGP companion diagnostic
• Tests analyze 300+ cancer-related genes
• Used by oncologists in 50+ countries
• Partners include major pharmaceutical companies
• Early investors included Third Rock Ventures, DST Global, and Kleiner Perkins
• Employs approximately 2,000 people

Sources

• Foundation Medicine Official Website
• Roche Press Release - Acquisition
• LinkedIn Company Page
• FDA Approval Announcements