CAMBRIDGE, Mass.--(BUSINESS WIRE)--Foundation Medicine, Inc. (NASDAQ:FMI) today announced that the U.S. Patent and Trademark Office has issued U.S. patent number 9,340,830, entitled, “Optimization of Multigene Analysis of Tumor Samples.” The patent, which is assigned to Foundation Medicine, includes fundamental claims describing methods of analyzing a cancer patient’s tissue or blood specimen to detect multiple classes of genomic alterations. The patent carries a term extending to 2032. The company is also pursuing patent applications covering aspects of its genomic analysis platform with the European Patent Office and in other jurisdictions outside the United States.
“Foundation Medicine has been at the leading edge of innovation in genomic analysis of cancer since our inception six years ago,” said Michael Pellini, M.D, chief executive officer for Foundation Medicine. “We believe this patent both acknowledges our pioneering efforts in research and development, and, importantly, it demonstrates our expertise in translating innovation into clinically validated, best-in-class assays that benefit cancer patients around the world. We are gratified that our contributions to the clinical and scientific communities are enabling new genomic analysis products in the fight against cancer.”
Dr. Pellini continued, “We believe patients and their physicians should have access to the full complement of test offerings that, when used appropriately, can meaningfully guide and inform treatment plans. We plan to evaluate strategies to maximize the value of this patent and our other intellectual property. That said, in leveraging this asset, we do not intend to block the use of methods covered by the patent in patient testing that may be offered by others. We are pleased with the issuance of this patent to strengthen Foundation Medicine’s intellectual property position and reinforce our overall leadership in transforming cancer care.”
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 offers a full suite of comprehensive genomic profiling assays to identify the molecular alterations in a patient’s cancer and match them with relevant targeted therapies, immunotherapies 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).
Foundation Medicine® is a registered trademark of Foundation Medicine, Inc.
Cautionary Note Regarding Forward-Looking Statements
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 U.S. patent number 9,340,830 (the “Patent”), including the Company’s rights under the Patent remaining intact for the full term of the Patent, the pursuit and progression of patent applications outside the United States, the evaluation and implementation of strategies related to the Patent, Foundation Medicine’s ability to leverage the value of the Patent, and Foundation Medicine’s intention not to block other parties from utilizing methods that may be covered by the Patent. 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 Patent could be challenged; that the claims included in the Patent could be modified or invalidated as a result of a judicial or administrative determination; that factors could arise that reduce or eliminate the ability of Foundation Medicine to leverage and realize value from the Patent; that Foundation Medicine determines it is in the best interests of Foundation Medicine to seek injunctive relief in relation to one or more of its patents; and the risks described under the caption "Risk Factors" in Foundation Medicine's Annual Report on Form 10-K for the year ending December 31, 2015, 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.