Skip to main content
Premium Trial:

Request an Annual Quote

Foundation Medicine Nets $25M in Venture Financing

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Pharmacogenomic testing startup Foundation Medicine has raised $25 million in a round of Series A financing led by Third Rock Ventures, the Cambridge, Mass.-based firm said today.

The venture financing will be used to develop clinical lab tests that will analyze tumor genomic and other molecular information in individual patients' cancers and link it to a base of clinical oncology data that can help physicians tailor their treatments, the company said.

"Currently, no mechanism exists whereby clinicians, in the day-today practice of clinical oncology, can systematically obtain tumor information and efficiently interpret the specific molecular alterations associated with each patient's disease," Foundation Medicine CEO Alexis Borisy said in a statement. "We believe this comprehensive tumor information could prove important in selecting optimal therapy for some patients."

The firm's founding academic advisors include Eric Lander and Todd Golub of the Broad Institute, and Levi Garraway and Matthew Meyerson of the Dana-Farber Cancer Institute.

The firm's board of directors includes Third Rock Ventures Partners' Mark Levin and Robert Tepper, as well as Agios Pharmaceuticals CEO David Schenkein.

The Scan

Genetic Risk Factors for Hypertension Can Help Identify Those at Risk for Cardiovascular Disease

Genetically predicted high blood pressure risk is also associated with increased cardiovascular disease risk, a new JAMA Cardiology study says.

Circulating Tumor DNA Linked to Post-Treatment Relapse in Breast Cancer

Post-treatment detection of circulating tumor DNA may identify breast cancer patients who are more likely to relapse, a new JCO Precision Oncology study finds.

Genetics Influence Level of Depression Tied to Trauma Exposure, Study Finds

Researchers examine the interplay of trauma, genetics, and major depressive disorder in JAMA Psychiatry.

UCLA Team Reports Cost-Effective Liquid Biopsy Approach for Cancer Detection

The researchers report in Nature Communications that their liquid biopsy approach has high specificity in detecting all- and early-stage cancers.