Foundation Medicine provided additional detail about Roche's multimillion-dollar investment in the cancer-focused molecular diagnostic company during its Q1 2015 earnings call.
Roche is not wasting any time after sealing its $1.2 billion deal for Foundation Medicine, charging full speed ahead with the companies' planned cancer R&D collaboration to generate growth in the coming year.
Roche sealed its $1.2 billion deal for Foundation Medicine, forging ahead with cancer R&D as it gains a majority stake in the company.
Foundation Medicine revealed a C-suite shakeup and changes to its board of directors as it nears the finish line of its pending deal with Roche.
Foundation Medicine has been on an upward trajectory as of late, inking deals with Big Pharma and expanding the reach for its gene-profiling technology. The company's hard work appears to be paying off, as Foundation's Q4 2014 revenues rose 93% to $18.7 million and oncologists ordered 7,233 of its clinical tests, compared to 3,752 tests ordered during the same quarter last year.
Yet another next-generation sequencing startup has disclosed that it's won financing. Lifecode, formerly known as Silicon Valley Biosystems, has garnered a $20.5 million Series A round from investors including Sequoia Capital, The Mayo Clinic and Mayo Ventures.
SAN FRANCISCO--More than a few presentations at the JP Morgan Healthcare conference this week sought to address the future of next-generation sequencing, particularly with the huge waves of related news.
Roche is throwing the full weight of its global rep and more than $1 billion behind Foundation Medicine's ambitious sequencing technology, designed to tailor cancer treatment to particular patients and guide development of new cancer drugs.
Roche is shelling out $1 billion plus milestone payments for a majority share in Foundation Medicine, bolstering its diagnostics offerings for cancer and continuing its dealmaking streak.
Roche is throwing the full weight of its global rep and more than a billion dollars behind Foundation Medicine's ambitious sequencing technology for guiding the personalized treatment of cancer as well as the development of new oncology meds. The pharma giant has wrapped a deal to buy up a majority stake in the molecular diagnostics company for $780 million at $50 a share--a premium rate that's more than twice Friday's close of $23.93.