Foundation Medicine

{{Short description|American genomics company}}

{{Infobox company

| name = Foundation Medicine, Inc.

| former_name =

| logo = Foundation_Medicine_logo.svg

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| type = Subsidiary

| traded_as = {{NASDAQ was|FMI}}

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| hq_location_city = Cambridge, Massachusetts

| hq_location_country = United States

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| key_people = Daniel Malarek (CEO)

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| parent = Roche

| products = FoundationOne CDx FoundationOne Liquid FoundationOne Heme Foundation Insights FoundationSmartTrials

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| revenue = {{Increase}} $152.9 million (2017){{Cite web|url=https://www.foundationmedicine.com/press-releases/8127fc29-d70f-45b2-893c-330957e601bf#:~:text=Total%20revenue%20for%20the%20year,to%20%24116.9%20million%20in%202016.&text=A%20total%20of%2067%2C375%20clinical,%2C%20an%20increase%20of%2054%25.|title = Foundation Medicine Announces 2017 Fourth Quarter and Year-End Results, Recent Highlights and 2018 Outlook | Foundation Medicine}}

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| homepage = {{URL|https://foundationmedicine.com/}}

}}

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.{{cite news | title=Cambridge startup soars on Roche stake | department=Business | author=Staff | date=15 January 2015 | work=The Boston Globe | url=https://www.bostonglobe.com/business/2015/01/18/foundation-medicine-soars-roche-investment/Gz2soneGH1UmWbwf6Ym9JK/story.html }}

==History==

Foundation Medicine was founded in Cambridge, Massachusetts.{{cite news |title=Foundation Medicine building RTP lab into key hub |author=Allan Maurer |url=https://www.wraltechwire.com/2017/09/28/foundation-medicine-building-rtp-lab-into-key-hub/ |work=WRAL TechWire |date=September 28, 2017 |access-date=18 January 2018 |quote=Foundation, founded in Cambridge, Mass., in 2010}} 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.{{cite news |title=Foundation Medicine: Personalizing Cancer Drugs |author= Adrienne Burke |url=https://www.technologyreview.com/s/426987/foundation-medicine-personalizing-cancer-drugs/ |work=MIT Technology Review |date=February 21, 2012 |access-date=18 January 2018 }}

Foundation Medicine launched in 2010 with a $25 million Series A financing led by Third Rock Ventures.{{cite news |title=Foundation Medicine Developing Targeted Sequencing Test for 'Clinically Actionable' Cancer Genes |author=Julia Karow |url=https://www.genomeweb.com/sequencing/foundation-medicine-developing-targeted-sequencing-test-clinically-actionable-ca |work=Genome Web |date=April 13, 2011 |access-date=18 January 2018 }} The company released its first commercial assay, or test, called FoundationOne in 2012.{{cite news |title=Roche Holding to Pay $1.03 Billion for Diagnostics-Firm Stake |author=Ron Winslow |url=https://www.wsj.com/articles/roche-holding-to-pay-1-03-billion-for-diagnostics-firm-stake-1421042401 |work=The Wall Street Journal |date=January 12, 2015 |access-date=18 January 2018 }} The company also began partnering with pharmaceutical companies to analyze patient samples. The first such program was piloted with Novartis in 2011, and by 2018, the company had more than 30 partnerships.{{cite news |title=Foundation Medicine to Grow Clinical Testing, Pharma Business in 2018 |author=Julia Karrow |url=https://www.genomeweb.com/molecular-diagnostics/foundation-medicine-grow-clinical-testing-pharma-business-2018#.W1M9QNhKhn6 |work=GenomeWeb|date=8 March 2018|access-date=18 June 2018 }}

Foundation Medicine launched its second test, a hematological biomarker assay called FoundationOneHeme, in 2013.{{cite news |title=LabCorp Steps into NGS-based Oncology Market as Foundation Medicine Adds Hematologic Cancer Test |author=Julia Karow |url=https://www.genomeweb.com/sequencing/labcorp-steps-ngs-based-oncology-market-foundation-medicine-adds-hematologic-can |work=Genome Web |date=December 11, 2013 |access-date=18 January 2018 }} The company held its initial public offering in August 2013.{{cite news |title=Foundation Medicine still growing a year after launching blood-cancer test |author=Don Seiffert |url=https://www.bizjournals.com/boston/blog/bioflash/2014/12/foundation-medicine-still-growing-a-year-after.html |work=Boston Business Journal |date=December 4, 2014 |access-date=18 January 2018 }} The following year, Priority Health in Michigan became the first healthcare plan in the United States to cover the company's tests.{{cite news |title=Foundation Medicine's shares gain on flurry of good news ahead of earnings call |author=Don Seiffert |url=https://www.bizjournals.com/boston/blog/bioflash/2014/11/foundation-medicines-shares-gain-on-flurry-of-good.html |work=Boston Business Journal |date=November 20, 2014 |access-date=18 January 2018 }}

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.{{cite news|author=Constance Gustke|url=https://www.cnbc.com/2017/07/06/joe-bidens-moonshot-push-to-crack-code-on-cancer.html|title=Joe Biden's moonshot to crack the code on cancer, one of the biggest killers in America|date=July 6, 2017|work=CNBC|access-date=18 January 2018}}

In 2018, Roche acquired Foundation Medicine (via acquisition of the remaining 42.5% of Foundation Medicine for $2.4 billion), and currently operates it as a subsidiary.{{cite journal | first1 = Michael | last1 = Shields | first2 = Ben | last2 = Hirschler | name-list-style = vanc | title = Roche pays $2.4 billion for rest of cancer expert Foundation Medicine| url = https://uk.reuters.com/article/us-roche-hldg-m-a-fmi/roche-pays-2-4-billion-for-rest-of-cancer-expert-foundation-medicine-idUKKBN1JF0F3 | archive-url = https://web.archive.org/web/20180619214300/https://uk.reuters.com/article/us-roche-hldg-m-a-fmi/roche-pays-2-4-billion-for-rest-of-cancer-expert-foundation-medicine-idUKKBN1JF0F3 | url-status = dead | archive-date = June 19, 2018 | date = 19 June 2018 | journal = Reuters }}{{Cite web |title=Roche and Foundation Medicine reach definitive merger agreement to accelerate broad availability of comprehensive genomic profiling in oncology |url=https://www.roche.com/media/releases/med-cor-2018-06-19.htm}}

Guardant Health sued Foundation Medicine over patents in 2019–2020.{{cite web |last1=Han |first1=Andrew P. |title=Guardant Health CEO Deleted Email Evidence After Lawsuit Deposition |url=https://www.genomeweb.com/cancer/guardant-health-ceo-deleted-email-evidence-after-lawsuit-deposition#.Yxep4i-B2Rs |website=GenomeWeb |access-date=September 6, 2022 |date=January 6, 2020}}{{cite journal |last1=Leuty |first1=Ron |title=Showdown over 'liquid biopsy' patents lands two cancer test players in court again |journal=San Francisco Business Times |date=November 24, 2020 |url=https://www.bizjournals.com/sanfrancisco/news/2020/11/24/cancer-guardant-health-foundation-medicine-roche.html |access-date=September 1, 2022}} In 2021, Guardant Health licensed intellectual property to Foundation Medicine for $25 million in a settlement.{{cite web |title=Guardant Health to License IP to Foundation Medicine for $25M, Royalties Under Settlement Agreement |url=https://www.genomeweb.com/business-news/guardant-health-license-ip-foundation-medicine-25m-royalties-under-settlement#.Yxeq_i-B2Rs |website=GenomeWeb |access-date=September 6, 2022 |date=May 21, 2021}}

==Products==

Foundation Medicine's products include genomic tests for solid tumors and blood-based cancers and sarcomas,{{cite news |title=Foundation Medicine: To Profit From The Increasing Trend Of Personalized Treatment |author=Dr. Hung Tran |url=https://seekingalpha.com/article/4164724-foundation-medicine-profit-increasing-trend-personalized-treatment |work=Seeking Alpha |date=23 April 2018 |access-date=13 September 2018}} as well as data services.

• FoundationOne CDx is a CGP test providing information for five tumor types: ovarian, lung, breast, colorectal, and melanoma.{{cite news |title=Roche will pay $2.4 billion to complete its takeover of Foundation Medicine |author=Jonathan Saltzman |url=https://www.bostonglobe.com/business/2018/06/20/roche-will-pay-billion-complete-its-takeover-foundation-medicine/yXemI8Wh8BwZg8tuOzrV0N/story.html |work=The Boston Globe |date=June 20, 2018 |access-date=13 September 2018 |archive-date=14 September 2018 |archive-url=https://web.archive.org/web/20180914203721/https://www.bostonglobe.com/business/2018/06/20/roche-will-pay-billion-complete-its-takeover-foundation-medicine/yXemI8Wh8BwZg8tuOzrV0N/story.html |url-status=dead }}
• FoundationOne Liquid
• FoundationOne Heme
• 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.{{cite news |title=Pfizer Joins Foundation Medicine to Develop Cancer CDx |author=Alex Philippidis |url=https://www.genengnews.com/gen-news-highlights/pfizer-joins-foundation-medicine-to-develop-cancer-cdx/81255380 |work=GEN |date=January 16, 2018 |access-date=18 January 2018 }}