NEW YORK (GenomeWeb News) – Foundation Medicine and Agios Pharmaceuticals today announced a deal to develop diagnostics for the biopharmaceutical firm's drug candidates.
Under the terms of the deal, the partners seek to identify genomic alterations, which can be used to pick out those patients most likely to respond to Agios' new cancer metabolism inhibitors targeting tumors carrying mutations in either the IDH1 or IDH2 metabolic enzymes. Using this information, Foundation and Agios will then develop and potentially commercialize diagnostics for the drug candidates.
Financial and other terms of the deal were not disclosed.
"As we prepare to enter the clinic, Foundation Medicine provides us with the most advanced genomic profiling and analytical expertise in the industry," Agios CEO David Schenkein said in a statement. "This collaboration will further expand our insights on how best to target IDH mutations therapeutically and will help us in our mission to bring important new drugs to patients with cancer."
Foundation CEO Michael Pellini said that his firm's cancer genomic profile can match a patient's individual molecular alterations with appropriate targeted therapies. "For this reason, it is important for us to partner with innovative biopharmaceutical companies like Agios to help expand the number of targeted therapies available and open new treatment options for patients," he said.