Skip to main content
Premium Trial:

Request an Annual Quote

Foundation Medicine Raises $10M, Targeting $20.5M

NEW YORK (GenomeWeb News) – Foundation Medicine has raised $10 million toward a $20.5 million financing round, the company disclosed in a regulatory filing with the US Securities and Exchange Commission on Tuesday.

A company spokesman declined to comment on the filing or provide information on investors in the round. According to the SEC document, one investor has participated in the equity round so far.

Foundation Medicine CEO Michael Pellini told GenomeWeb Daily News sister publication Clinical Sequencing News in June that the firm intends to obtain CLIA certification for its sequencing-based cancer test this year and to launch it as a laboratory-developed test in the second quarter of 2012.

The Cambridge, Mass.-based pharmacogenomics company previously raised $25 million in a Series A round last year. Since the start of the year, it has inked two deals, one with Novartis and the other with Celgene, for use of its genomic tests in clinical trials.

The Scan

Genetic Testing Approach Explores Origins of Blastocyst Aneuploidy

Investigators in AJHG distinguish between aneuploidy events related to meiotic missegregation in haploid cells and those involving post-zygotic mitotic errors and mosaicism.

Study Looks at Parent Uncertainties After Children's Severe Combined Immunodeficiency Diagnoses

A qualitative study in EJHG looks at personal, practical, scientific, and existential uncertainties in parents as their children go through SCID diagnoses, treatment, and post-treatment stages.

Antimicrobial Resistance Study Highlights Key Protein Domains

By screening diverse versions of an outer membrane porin protein in Vibrio cholerae, researchers in PLOS Genetics flagged protein domain regions influencing antimicrobial resistance.

Latent HIV Found in White Blood Cells of Individuals on Long-Term Treatments

Researchers in Nature Microbiology find HIV genetic material in monocyte white blood cells and in macrophages that differentiated from them in individuals on HIV-suppressive treatment.