Roche and Foundation Medicine (USA) announced they have entered into a definitive merger agreement for Roche to acquire the outstanding shares of FMI’s common stock not already owned by Roche and its affiliates with a total transaction value of $2.4 billion.
Foundation medicine is a molecular information company developing clinical diagnostic tests that facilitates personalized cancer therapies. Foundation Medicine develops clinical diagnostic tests that facilitates personalized cancer therapies. The merger agreement has been unanimously approved by the board of Roche and a Special Committee of the independent directors of FMI and by its full board of directors.
Foundation Medicine, based in Cambridge, Massachusetts, is a market leading molecular information company dedicated to a transformation in cancer care, where each patient’s treatment is informed by a deep understanding of the molecular changes that contribute to their disease. Their services include a full suite of comprehensive genomic profiling (CGP) assays to identify the molecular alterations in a patient’s cancer and match them with relevant targeted therapies, immunotherapies and clinical trials.