CAMBRIDGE, MA, Foundation Medicine Inc. has raised $10 million of a planned $20.5 million financing, according to SEC filings. Only a single backer is noted. Third Rock Ventures has previously invested in the company.
Foundation Medicine is dedicated to the development of a comprehensive diagnostic test that improves cancer care by helping physicians personalize treatment for their patients. Foundation Medicine's laboratory test is being designed to accommodate a broad landscape of cancer genome information and a growing repertoire of more targeted treatments and clinical research opportunities. Foundation Medicine's test will assist physicians to make prompt and informed determinations about the best cancer treatments and clinical trial options for each patient, taking into account each patient's unique cancer-associated alterations alongside publicly available scientific and medical information.
The company's founding advisors are world leaders in genome technology, cancer biology and medical oncology; they, alongside clinicians, biotech and molecular diagnostics industry leaders, are working to harness emerging technologies to develop unparalleled tests that will identify and interpret an ever-growing set of actionable genomic alterations, truly enabling personalized cancer medicine.
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