Skip to main content
Premium Trial:

Request an Annual Quote

Foundation Medicine Raises $10M, En Route to Launching Targeted Sequencing Test for Cancer Dx


Foundation Medicine has raised $10 million of a planned $20.5 million financing round, according to documents filed with the US Securities and Exchange Commission this week.

The equity comes from a single, unnamed backer, and adds to the $25 million it raised in a Series A financing round last year.

The company, which is aiming for CLIA-certification by the end of the year, is currently developing a targeted sequencing-based cancer test that it plans to launch in the second quarter of 2012 (CSN 6/8/2011). It is also collaborating with pharmaceutical companies Novartis and Celgene (CSN 4/13/2011 and 5/17/2011).

The Scan

Myotonic Dystrophy Repeat Detected in Family Genome Sequencing Analysis

While sequencing individuals from a multi-generation family, researchers identified a myotonic dystrophy type 2-related short tandem repeat in the European Journal of Human Genetics.

TB Resistance Insights Gleaned From Genome Sequence, Antimicrobial Response Assays

Researchers in PLOS Biology explore M. tuberculosis resistance with a combination of sequencing and assays looking at the minimum inhibitory concentrations of 13 drugs.

Mendelian Disease Genes Prioritized Using Tissue-Specific Expression Clues

Mendelian gene candidates could be flagged for further functional analyses based on tissue-specific transcriptome and proteome profiles, a new Journal of Human Genetics paper says.

Single-Cell Sequencing Points to Embryo Mosaicism

Mosaicism may affect preimplantation genetic tests for aneuploidy, a single-cell sequencing-based analysis of almost three dozen embryos in PLOS Genetics finds.