Foundation Medicine, Inc., a commercial-stage company, offers products enabled by its molecular information platform to physicians and biopharmaceutical companies. Products and Services The company’s platform includes proprietary methods and algorithms for analyzing tumor tissue samples across all types of cancer, as well as information aggregation and concise reporting capabilities. Its products provide genomic information about each patient’s individual cancer, enabling physicians to optimize treatments in clinical practice and enabling biopharmaceutical companies to develop targeted oncology therapies more effectively. The company’s clinical products, FoundationOne, for solid tumors, and FoundationOne Heme, for blood-based cancers, or hematologic malignancies, including leukemia, lymphoma, and myeloma, as well as many sarcomas and pediatric cancers, are the commercially available comprehensive molecular information products designed for use in the routine care of patients with cancer. Strategy The company’s objective is to transform the care of patients with cancer by the development and commercialization of proprietary genomic information products that guide the diagnosis and treatment of cancer, and that enhance the development of cancer therapies. To achieve this objective, its strategy includes the following elements: driving awareness and adoption of FoundationOne, FoundationOne Heme, and its future clinical products; demonstrating the value of its products to patients, physicians, and payors; enabling biopharmaceutical companies to more effectively develop new cancer therapies; investing in product enhancements and new product innovations; and empowering the broader cancer community with molecular information. Patents The company’s patent portfolio includes pending U.S. provisional and utility applications, and strategically focused corresponding international applications filed via the Patent Cooperation Treaty, or PCT, and foreign national and regional counterpart applications. Trade Secrets and Trademarks ‘Foundation Medicine’ is a registered mark in the United States and other countries, and ‘FoundationOne’ is a registered mark in several countries with registration pending in the United States. Research and Development The company’s research and development expenses were $24.9 million, as of December 31, 2013. Significant Events In June 2014, a public-private collaboration among the National Cancer Institute, part of the National Institutes of Health, SWOG Cancer Research, Friends of Cancer Research, the Foundation for the National Institutes of Health (FNIH), five pharmaceutical companies (Amgen, Genentech, Pfizer, AstraZeneca, and AstraZeneca's global biologics R&D arm, MedImmune), and Foundation Medicine announced the initiation of the Lung Cancer Master Protocol (Lung-MAP) trial. Lung-MAP is a multi-drug, multi-arm, biomarker-driven clinical trial for patients with advanced squamous cell lung cancer. In October 2014, Foundation Medicine, Inc. and WuXi PharmaTech (Cayman) Inc. announced a collaboration to offer Foundation Medicine's comprehensive genomic profiling to biopharmaceutical companies conducting clinical trials in China. Under the terms of the collaboration, Foundation Medicine would license and enable WuXi to perform the laboratory component of Foundation Medicine's FoundationOne assay at the WuXi Genome Center in Shanghai, the first and only CLIA-certified laboratory in China. In January 2015, F. Hoffmann-La Roche Ltd. and Foundation Medicine, Inc. entered into a strategic collaboration to enhance the identification and development of novel treatment options for cancer patients. Competition Single-Marker and Hotspot Panel Tests: The company’s competitors include laboratory companies such as Bio-Reference Laboratories, Inc.; Laboratory Corporation of America Holdings; Quest Diagnostics Incorporated; Abbott Laboratories; Qiagen N.V.; Roche Molecular Systems, Inc.; and Sequenom, Inc. Academic Research Centers and NGS Platforms: The company’s competition includes entities such as the MD Anderson Cancer Center, University of Michigan, Baylor Medical Genetics Laboratories, Washington University in St. Louis, and other academic hospitals and research centers. History Foundation Medicine, Inc. was founded in 2009. The company was incorporated under the laws of the state of Delaware in 2009.
foundation medicine inc (FMI:NASDAQ GS)
150 Second Street
Cambridge, MA 02141
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