CAMBRIDGE, Mass. & NEW YORK, Dec 02, 2014 (BUSINESS WIRE) -- Foundation Medicine, Inc. FMI, -2.03% and Flatiron Health today announced a strategic collaboration to develop a unique, proprietary cloud-based information platform combining genomic and clinical treatment and outcomes data to significantly advance the field of precision medicine for cancer.
This collaboration integrates the Flatiron Health OncologyCloud™ platform with Foundation Medicine's comprehensive genomic profiling capabilities to support evidence-based drug development and help accelerate the delivery of safe, effective and targeted new cancer therapies to patients.
"Flatiron Health and Foundation Medicine share a common belief that integrated clinical and molecular information can drive a revolution in how patients battling cancer can be treated," said Nat Turner, co-founder and chief executive officer, Flatiron Health. "Together, Foundation Medicine and Flatiron Health will bring our collective expertise in oncology, informatics and technology to develop a first-in-class platform that helps advance cancer care."
Foundation Medicine and Flatiron Health will work together to co-develop products based on a comprehensive, HIPAA-compliant information platform that seamlessly analyzes and integrates clinical treatment and outcome data with matched comprehensive genomic profiling data for patients who have undergone testing with FoundationOne or FoundationOne Heme. Life science companies will be able to utilize this cloud-based platform to enable better selection of molecular candidates, more efficient clinical trial design and faster patient recruitment into clinical trials.
"The marriage of information analytics and cancer genomics represents one of the most powerful opportunities to redefine and reshape the way cancer drugs are developed and delivered to patients in need," said Michael J. Pellini, M.D., president and chief executive officer of Foundation Medicine. "The jointly developed information products born from this collaboration will provide life science companies with a powerful new tool to access actionable data that informs the development of targeted new cancer therapies. We believe this collaboration embodies the future of cancer drug development and delivery, and we are delighted to partner with Flatiron to make the future of cancer care a reality today."
The proprietary products resulting from this combined genomic and clinical outcomes data asset are expected to be commercially available for licensing by life science companies beginning in mid-2015.
About Flatiron Health, Inc.
Flatiron Health is a health care technology company and operator of the OncologyCloud™ platform. By integrating across the entire clinical data spectrum, Flatiron Health allows cancer care providers and life science companies to gain deep business and clinical intelligence through its web-based platform. The company was started by Nat Turner and Zach Weinberg, two of the founders of Invite Media, and is backed by Google Ventures, First Round Capital, LabCorp, and other venture capital groups and angel investors. For more information, please visit www.flatiron.com.
About Foundation Medicine
Foundation Medicine FMI, -2.03% is a molecular information company dedicated to a transformation in cancer care in which treatment is informed by a deep understanding of the genomic changes that contribute to each patient's unique cancer. The company's clinical assays, FoundationOne for solid tumors and FoundationOne Heme for hematologic malignancies, sarcomas and certain pediatric cancers, provide a fully informative genomic profile to identify the molecular alterations in a patient's cancer and match them with relevant targeted therapies and clinical trials. Foundation Medicine's molecular information platform aims to improve day-to-day care for patients by serving the needs of clinicians, academic researchers and drug developers to help advance the science of molecular medicine in cancer. For more information, please visit http://www.FoundationMedicine.com or follow Foundation Medicine on Twitter (@FoundationATCG).
Foundation Medicine® and FoundationOne® are registered trademarks of Foundation Medicine, Inc.
Cautionary Note Regarding Forward-Looking Statements for Foundation Medicine
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding any future products to be developed through the collaboration, including the timing for when such products may be available, and the ability of any information products developed to advance precision medicine for cancer, improve selection of drug candidates or make clinical trial design and enrollment more efficient.All such forward-looking statements are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements.These risks and uncertainties include the risks that the information product and platform development is not completed, that the products developed are not commercially viable or widely accepted, and the risks described under the caption "Risk Factors" in Foundation Medicine's Annual Report on Form 10-K for the year ended December 31, 2013, which is on file with the Securities and Exchange Commission, as well as other risks detailed in subsequent filings with the Securities and Exchange Commission, may be realized. All information in this press release is as of the date of the release, and Foundation Medicine undertakes no duty to update this information unless required by law.