Foundation Medicine announces $42.5m Series B financing
Foundation Medicine announced Thursday the completion of a $42.5 million Series B financing.
In this round, public crossover funds Deerfield Management Company, L.P., Casdin Capital, Redmile Group and strategic investors Roche Venture Fund and WuXi Corporate Venture Fund joined founding investor Third Rock Ventures and current venture capital backers Google Ventures and Kleiner Perkins Caufield & Byers, Cambridge-based Foundation Medicine said in a press release. In addition to the funds and strategic investors named, there was one undisclosed fund and one undisclosed strategic investor also involved in this financing round.
The company said that its board of directors remains unchanged.
Foundation Medicine describes itself as a molecular information company dedicated to a transformation in cancer care by developing treatments that are informed by an understanding of the genomic changes that contribute to each patient’s unique cancer.