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Foundation Medicine, Laboratorios Leti Reach Distribution Deal for Spain, Portugal

NEW YORK (GenomeWeb) – Foundation Medicine today announced a partnership with Laboratorios Leti to distribute the company's products in Spain and Portugal.

Foundation said that the agreement with the Barcelona, Spain-based biopharmaceutical firm will serve as a model for other deals with distributors in select markets globally. Financial and other terms were not disclosed.

The firm also announced the appointment of Urmi Prasad Richardson as vice president, international to head Foundation's international commercialization efforts. She will be based in Germany and has held positions at Chiron, Novartis, and Immucor.

In a statement, Foundation Chief Commercial Officer and Senior VP of International Strategy Kevin Krenitsky said the firm has reported clinical tests to customers in more than 40 countries outside the US. The addition of Richardson and others to the company's commercial team positions the company to "further develop our international strategy and continue to grow our global business to support the increasing demand for our clinical products."

The company also said it received a CE mark for the FoundationOne assay for solid tumors. It has not filed an application yet for a CE mark for FoundationOne Heme assay for blood-based cancers.