Foundation Medicine
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| Traded as | NASDAQ: FMI |
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| Headquarters | Cambridge, Massachusetts, United States |
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Key people
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| Products | FoundationOne Heme |
| Owners | Hoffmann-La Roche (56%, 2015) |
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Number of employees
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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. The company's tests are based on next-generation sequencing technology.
Foundation Medicine went public in August 2013; its stock is traded on the under the symbol FMI. In 2015, revenue reached $93 million. As of March 2016[update], the company had 417 employees.
The company's flagship product was FoundationOne, the FoundationOne Heme diagnostic test being for blood cancers.
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. 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. Roche also announced an intention to invest US$400,000,000 toward Foundation Medicine's operations, development and R&D activities.
Foundation Medicine also has business agreements with Johnson & Johnson and Novartis.
The company's chief executive officer (CEO) is Michael J. Pellini. The company's chief operating officer (COO) is Steve Kafka. The company's chief commercial officer (CCO) is David Daly.
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