Joint Effort to Create Unique Genomic and Clinical Outcomes
Information Solution to Inform and Accelerate Development of Targeted
Therapies to Advance Patient Care
CAMBRIDGE, Mass. & NEW YORK--(BUSINESS WIRE)--
Medicine, Inc. (NASDAQ:FMI) and Flatiron
Health today announced a strategic collaboration to develop a
unique, proprietary cloud-based information platform combining genomic
and clinical treatment and outcomes data to significantly advance the
field of precision medicine for cancer.
This collaboration integrates the Flatiron Health OncologyCloud™
platform with Foundation Medicine's comprehensive genomic profiling
capabilities to support evidence-based drug development and help
accelerate the delivery of safe, effective and targeted new cancer
therapies to patients.
"Flatiron Health and Foundation Medicine share a common belief that
integrated clinical and molecular information can drive a revolution in
how patients battling cancer can be treated," said Nat Turner,
co-founder and chief executive officer, Flatiron Health. "Together,
Foundation Medicine and Flatiron Health will bring our collective
expertise in oncology, informatics and technology to develop a
first-in-class platform that helps advance cancer care."
Foundation Medicine and Flatiron Health will work together to co-develop
products based on a comprehensive, HIPAA-compliant information platform
that seamlessly analyzes and integrates clinical treatment and outcome
data with matched comprehensive genomic profiling data for patients who
have undergone testing with FoundationOne®
or FoundationOne Heme. Life science companies will be able to utilize
this cloud-based platform to enable better selection of molecular
candidates, more efficient clinical trial design and faster patient
recruitment into clinical trials.
"The marriage of information analytics and cancer genomics represents
one of the most powerful opportunities to redefine and reshape the way
cancer drugs are developed and delivered to patients in need," said
Michael J. Pellini, M.D., president and chief executive officer of
Foundation Medicine. "The jointly developed information products born
from this collaboration will provide life science companies with a
powerful new tool to access actionable data that informs the development
of targeted new cancer therapies. We believe this collaboration embodies
the future of cancer drug development and delivery, and we are delighted
to partner with Flatiron to make the future of cancer care a reality
The proprietary products resulting from this combined genomic and
clinical outcomes data asset are expected to be commercially available
for licensing by life science companies beginning in mid-2015.
About Flatiron Health, Inc.
Flatiron Health is a health care technology company and operator of the
OncologyCloud™ platform. By integrating across the entire clinical data
spectrum, Flatiron Health allows cancer care providers and life science
companies to gain deep business and clinical intelligence through its
web-based platform. The company was started by Nat Turner and Zach
Weinberg, two of the founders of Invite Media, and is backed by Google
Ventures, First Round Capital, LabCorp, and other venture capital groups
and angel investors. For more information, please visit www.flatiron.com.
About Foundation Medicine
Foundation Medicine (NASDAQ: FMI) is a molecular information company
dedicated to a transformation in cancer care in which treatment is
informed by a deep understanding of the genomic changes that contribute
to each patient's unique cancer. The company's clinical assays,
FoundationOne for solid tumors and FoundationOne Heme for hematologic
malignancies, sarcomas and certain pediatric cancers, provide a fully
informative genomic profile to identify the molecular alterations in a
patient's cancer and match them with relevant targeted therapies and
clinical trials. Foundation Medicine's molecular information platform
aims to improve day-to-day care for patients by serving the needs of
clinicians, academic researchers and drug developers to help advance the
science of molecular medicine in cancer. For more information, please
or follow Foundation Medicine on Twitter (@FoundationATCG).
Foundation Medicine® and FoundationOne®
are registered trademarks of Foundation Medicine, Inc.
Cautionary Note Regarding Forward-Looking Statements for Foundation
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements regarding any future products
to be developed through the collaboration, including the timing for when
such products may be available, and the ability of any information
products developed to advance precision medicine for cancer, improve
selection of drug candidates or make clinical trial design and
enrollment more efficient. All such forward-looking statements
are based on management's current expectations of future events and are
subject to a number of risks and uncertainties that could cause actual
results to differ materially and adversely from those set forth in or
implied by such forward-looking statements. These risks and
uncertainties include the risks that the information product and
platform development is not completed, that the products developed are
not commercially viable or widely accepted, and the risks described
under the caption "Risk Factors" in Foundation Medicine's Annual Report
on Form 10-K for the year ended December 31, 2013, which is on file with
the Securities and Exchange Commission, as well as other risks detailed
in subsequent filings with the Securities and Exchange Commission, may
be realized. All information in this press release is as of the date of
the release, and Foundation Medicine undertakes no duty to update this
information unless required by law.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20141202005355/en/
Adrienne Chen, Flatiron Health, Inc.
Pure Communications, Inc.
Khaled Habayeb, 617-418-2283
Source: Foundation Medicine, Inc.
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