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NEW YORK (GenomeWeb) – Roche plans to take a majority stake worth more than $1 billion in oncology genomic testing firm Foundation Medicine, and will invest potentially more than $150 million in R&D, the companies said today. In addition, Roche will help to expand sales of Foundation's tests outside the US.

Roche will commence a tender offer for approximately 15.6 million shares of Foundation Medicine at $50 per share, for an aggregate value of about $780 million. The offer price is a 109 percent premium over Foundation Medicine's closing price last Friday.

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