Foundation Medicine, Novartis team up on cancer diagnostics
Foundation Medicine Inc., a cancer diagnostics startup, has inked a collaboration deal with Swiss drug giant Novartis AG to tailor Foundation’s genome-based tests to Novartis’ needs. The agreement comes less than a year after Cambridge-based Foundation was launched by life sciences venture firm Third Rock Ventures, also based in Cambridge. Foundation calls itself a “personalized cancer medicine company that aims to bring comprehensive cancer genome analysis to routine clinical care.”
Officials at Foundation said in a press release that if the pilot phase is successful, Novartis and Foundation Medicine will evaluate opportunities to collaborate on the production and commercialization of the test. Financial details of the agreement were not disclosed.