Diagnostics maker Foundation Medicine joins IPO flurry

Diagnostics outfit Foundation Medicine is hopping on the IPO bandwagon. It said it plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. The Cambridge, MA-based company was a 2012 member of FierceBiotech's Fierce 15 and is riding a wave of success from its cancer diagnostic, which brought in $20 million in sales for the 12 months ending June 30. The diagnostic system assesses genomic mutations in cancer cells and match patients with targeted therapies. Founded in 2009, the company plans to list on the Nasdaq under the symbol "FMI." More from FierceMedicalDevices | S-1 filing