CAMBRIDGE, Mass.--(BUSINESS WIRE)--Foundation Medicine, Inc. (NASDAQ:FMI) today announced that F. Hoffmann La-Roche’s affiliate in Israel, Roche Pharmaceuticals (Israel) Ltd., will commence commercial activities in support of its suite of molecular information products. As part of the ex-US collaboration between Foundation Medicine and Roche, Roche Israel will act as the exclusive distributor of Foundation Medicine’s current products and services in Israel commencing as of October 24, 2015. The companies will also cooperate on the continued development of Foundation Medicine’s groundbreaking molecular information products to drive precision medicine and deliver improved clinical outcomes in cancer.
“We are delighted to initiate our ex-US collaboration with Roche Israel and bring a complete suite of molecular information products to the oncology community in Israel,” stated David Daly, Chief Commercial Officer of Foundation Medicine. “Roche’s strong market presence will be a key differentiator for Foundation Medicine’s products, and ultimately will drive increased access to critical molecular information solutions that empower cancer care teams to make informed therapeutic treatment decisions and positively impact clinical outcomes for patients.”
Roche Israel will commence commercial activities for Foundation Medicine’s end-to-end molecular information solutions, including FoundationOne® for solid tumors, FoundationOne® Heme for hematologic malignancies and sarcomas, and FoundationICE®.
Avi Danziger, General Manager of Roche Israel stated: “The combination of Foundation Medicine’s molecular information suite of products and our expertise in oncology drug development supports our unified quest to tailor the best care and treatment for patients and take a leading position in doing now what patients need next.”
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 contributes to each patient's unique cancer. The company's clinical assays, FoundationOne® for solid tumors and FoundationOne® Heme for hematologic malignancies and sarcomas, provide a comprehensive 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 visit http://www.FoundationMedicine.com or follow Foundation Medicine on Twitter (@FoundationATCG).
About Roche Israel
Roche Pharmaceuticals (Israel) Ltd was established as an independent affiliate in Israel on 1999 and constitutes a part of F. Hoffmann–La Roche Pharma division, the world’s largest biotech company.
Roche Israel is a market leader in clinical research, marketing and regulations of innovative original drugs in cancer treatment, rheumatology and virology. Roche Israel aspires to improve significantly patients’ health, survival and quality of life. Roche Israel leads the flagship program “Roche Reaches Out” for the past 13 years. The program’s aim is to improve the patients’ well-being and to assist in coping with the disease. This program represents the social responsibility vision of Roche Israel and embodies the company employees’ social & community involvement. Roche Israel has 130 employees and is the first company in Israel that was granted by the Top Employers Institute for its excellence in employee conditions.
The company offices located in Hod Hasharon were built under environmental considerations and sustainability. Roche is a leading company in Israel’s Pharmacology market in general, and particularly in corporate responsibility.
Foundation Medicine®, FoundationOne® and Interactive Cancer Explorer® are registered trademarks of Foundation Medicine, Inc.
Cautionary Note Regarding Forward-Looking Statements for Foundation Medicine
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 increased adoption of the company’s products by customers in Israel and other areas outside the United States, and the ability of the company’s partnership with Roche to accelerate this growth outside the United States; the development of the company’s international strategy; and the continued growth of the company’s global business. 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 uncertainties as to the performance of the collaboration between Foundation Medicine and Roche; the risks that any anticipated commercial launch or global expansion will be delayed, cancelled or unsuccessful; the unsuccessful realization of Foundation Medicine’s expectations and beliefs regarding the future conduct and growth of Foundation Medicine’s business and the markets in which it operates; that FoundationOne or FoundationOne Heme and any subsequent products may not achieve sustained and significant commercial adoption outside of the United States; and the risks described under the caption “Risk Factors” in Foundation Medicine’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2015 and June 30, 2015, which are 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.