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Foundation Medicine, AstraZeneca ink cancer genomics pact

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Cambridge, MA-based Foundation Medicine has inked its ninth industry collaboration on cancer genomics, and it's another marquee player. AstraZeneca ($AZN) will put Foundation Medicine's technology to use in search of discovering genomic alterations that could help direct its R&D efforts. Foundation--a 2012 Fierce 15 company--gains first rights to negotiate on new diagnostics. "This collaboration with Foundation Medicine will help us to identify tumour-specific defects and alterations that can be used for patient segmentation," said AstraZeneca's Susan Galbraith. Release