Our warm congratulations to Foundation Medicine on the important milestone of initial public offerings!
Located in Cambridge, Massachusetts, Foundation Medicine is a cancer diagnostic biotech company that enables doctors to recommend treatment options for cancer patients based on their genetic profile. WuXi Corporate Venture Fund participated in its Series B financing in 2012 to help furthering its mission of transforming cancer care through deeper understanding of the underlying genomic changes. On the first day of its market debut on September 24, Foundation Medicine shares rose as much as 89 percent, raising about $106 million to expand its commercial and laboratory operations, and to fund clinical studies. The strong market response reflects great public confidence in the company’s innovative approaches, and the potential of genomics in the treatment of diseases.
Congratulations, and we wish Foundation Medicine continued success in bringing better medicines closer to patients!