NEW YORK (GenomeWeb) – Foundation Medicine and H3 Biomedicine have signed a multi-year collaboration to use genomic data to discover and develop oncology therapeutics, the companies said today.
The partnership marries Foundation Medicine's FoundationCORE, a genomic knowledgebase of more than 35,000 genomic profiles, with H3's drug discovery engine and computational biology platform.
The companies aim to identify potential drug targets based on the unique genomic dependencies of individual cancers, rapidly accelerate clinical development of these targets, and commercialize "new, safe, and effective precision medicines" for cancer patients, they said in a statement.
Under the terms of the deal, H3 will pay Foundation a technology access fee for identification of target concepts arising from FoundationCORE and success milestones for selection, clinical progression, and commercialization of products developed from the program. In addition, Foundation is eligible to receive royalties on sales of products.