June 25, 2018—Roche and Foundation Medicine have entered into a merger agreement for Roche to acquire the outstanding shares of FMI’s common stock not already owned by Roche for $2.4 billion. The companies will focus on using FMI’s comprehensive genomic profile testing to develop treatments for patients with cancer. Foundation Medicine will continue to operate independently.
“This is important to our personalized health care strategy as we believe molecular insights and the broad availability of high quality comprehensive genomic profiling are key enablers for the development of, and access to, new cancer treatments. We will preserve FMI’s autonomy while supporting them in accelerating their progress,” Daniel O’Day, CEO Roche Pharmaceuticals, said in a press release.