Foundation Medicine ditches plans to raise $150M

The bearish market that led Lombard Medical to delay its IPO and TriVascular Technologies ($TRIV) to price below its range has scuttled a fundraise from diagnostics luminary Foundation Medicine ($FMI). The company pulled the plug on an effort to raise $150 million in a stock offering, citing "market conditions" in a filing with the SEC. The company raised $106 million in its IPO last year, and its shares are up about 44% since then. Filing | Initial S-1

Suggested Articles

The ADDF announced its second round of research awards, with a total of $6 million in new funding for diagnostic tests.

Takeda teamed up with Enzyre to develop an at-home diagnostic device that will help people with hemophilia determine their own coagulation status.

Foundation Medicine received a diagnostic approval from the FDA for selecting HR+/HER2- breast cancer patients for treatment with Novartis' Piqray.