CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Medicine, Inc. (NASDAQ:FMI) and H3
Biomedicine Inc. today announced a multi-year collaboration for the
discovery and development of precision medicines in oncology. The
collaboration marries Foundation Medicine's comprehensive genomic
knowledgebase of more than 35,000 genomic profiles, FoundationCORE™,
with H3 Biomedicine's drug discovery engine and computational biology
platform. The approach aims to identify potential drug targets based on
the unique genomic dependencies of individual cancers, rapidly
accelerate clinical development, and lead to the commercialization of
new, safe and effective precision medicines for individuals living with
"Large-scale genomic data sets are the key to identifying actionable
targets and addressing the multitude of difficult-to-treat cancers,"
Warmuth, M.D., president and chief executive officer of H3
Biomedicine. "More than ever before, we in cancer drug development have
the benefit of an ever-growing arsenal of genomic information including
publicly available data sets that inform validation of targets,
development of therapies and translation from bench to bedside. In this
regard, we believe Foundation Medicine offers one of the most
comprehensive cancer genomics knowledgebases available. This
collaborative effort will further empower our state-of-the-art discovery
engines to deliver novel first-in-class medicines and improve our
clinical development strategies by accessing a wealth of clinically
annotated, genomic information at least in part derived from later-stage
and metastatic cancers."
"This collaboration with H3 Biomedicine shows how Foundation Medicine is
creating value through FoundationCORE," said Michael J. Pellini, M.D.,
president and chief executive officer of Foundation Medicine. "Recent
scientific advances identifying the unique molecular drivers of cancer
are elucidating new approaches to targeted drug development.
FoundationCORE, our unique and rapidly growing genomic knowledgebase,
can provide valuable insights for our life sciences partners and help
them accelerate and increase the probability of success for clinical
development of new targeted therapies for patients with cancer."
Under the terms of the agreement, H3 Biomedicine will pay Foundation
Medicine a technology access fee for identification of target concepts
arising from FoundationCORE and success milestones for selection,
validation, clinical progression, and commercialization of products
developed from the program. In addition, Foundation Medicine is eligible
to receive royalties on sales of any products resulting from the
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 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).
About H3 Biomedicine Inc.
H3 Biomedicine is a privately held biopharmaceutical company focused on
the discovery and early development of novel, targeted anti-cancer
compounds for the unmet needs of genetically defined patient
populations. H3 has leveraged its integrated expertise in genomics,
tumor biology, bioinformatics and innovative synthetic organic chemistry
to create an integrated drug development ecosystem to deliver
patient-based, genomics-driven, small molecule drugs. In less than three
years, H3 has developed four discovery platforms, which have produced
two drug candidates for which the company expects to file
investigational new drug (IND) applications in late 2015. Founded by a
$200 million dollar investment from Eisai Inc., and given operational
and strategic independence, H3 has delivered on Eisai's confidence with
multiple platforms generating multiple lead programs. Having reached
this inflection point, H3 is considering additional collaborators to
fully realize the potential of its growing pipeline of lead programs and
drug candidates. H3 Biomedicine is based in Cambridge, Massachusetts.
for more information.
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 the ability of the
collaboration to identify potential drug targets and accelerate clinical
development and commercialization of such drug targets and the ability
of FoundationCORE to accelerate drug discovery efforts and improve
clinical outcomes for drug targets generally. 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 FoundationCORE does not perform as
expected; 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 Foundation
Medicine's subsequent filings with the Securities and Exchange
Commission. 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.
For Foundation Medicine
Dan Budwick, 973-271-6085
Susan Hager, 617-418-2283
Sam Brown Inc.
Mariesa Kemble, 608-850-4745
Source: Foundation Medicine, Inc.
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