Roche Gains Majority Stake In Foundation Medicine With R&D, Commercial Partnership
This article was originally published in The Gray Sheet
Roche is investing up to $1.18 billion in the genomic analysis firm, inking a partnership focused on companion diagnostics, cancer drug development and expanded marketing of Foundation's novel sequencing-based platform.
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Device financing rose slightly to $934 million in Q1, while acquisition value was down to just over $4 billion. Diagnostics fundraising dropped significantly to $597 million; M&A activity was dominated by NGS and Roche's transaction with Foundation Medicine.
The firm is barely more than a year old, but Cambridge, Mass.-based Foundation Medicine has set its sights on offering a one-stop companion diagnostic for cancer treatments using next-generation genome sequencing.
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