Foundation Medicine
Company type | Subsidiary |
---|---|
Headquarters | , United States |
Key people | Brian Alexander (CEO) |
Products | FoundationOne CDx FoundationOne Liquid FoundationOne Heme Foundation Insights FoundationSmartTrials |
Revenue | $152.9 million (2017)[1] |
Owners | Roche |
Website | foundationmedicine |
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]
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 2018, Roche acquired Foundation Medicine, and currently operates it as a subsidiary.[12][13]
Guardant Health sued Foundation Medicine over patents in 2019–2020.[14][15] In 2021, Guardant Health licensed intellectual property to Foundation Medicine for $25 million in a settlement.[16]
Products
Foundation Medicine's products include genomic tests for solid tumors and blood-based cancers and sarcomas,[17] as well as data services.
- FoundationOne CDx is a CGP test providing information for five tumor types: ovarian, lung, breast, colorectal, and melanoma.[18]
- 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.[19]
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