Foundation Medicine Inc., a Cambridge biotechnology company using genomics data and DNA sequencing to help doctors pinpoint treatments for cancer patients, has filed regulatory documents saying that it is looking to raise as much as $86.25 million in an initial public offering of common stock.
As of January, Foundation Medicine had raised nearly $100 million, including investments from Microsoft Corp. founder Bill Gates and Russian billionaire Yuri Milner.
Earlier this year, the company disclosed that it is partnering with Memorial Sloan-Kettering Cancer Center to co-develop a molecular diagnostic product designed to match patients with hematologic cancers with the best treatments.
A number of Massachusetts biotechs have been going public. Last week, Agios Pharmaceuticals saw its stock shares soar on the company’s first day of trading. Agios was the fifth Bay State biotech to go public this year, a Globe story noted.
Agios looks to the field of cellular metabolism to develop cancer treatments.
Take a look at other Massachusetts IPOs.