Foundation Medicine and WuXi PharmaTech Announce Strategic Collaboration
News Oct 31, 2014
Foundation Medicine, Inc. and WuXi PharmaTech (Cayman) Inc. have announced a collaboration to offer Foundation Medicine's comprehensive genomic profiling to biopharmaceutical companies conducting clinical trials in China.
Under the terms of the collaboration, Foundation Medicine will license and enable WuXi to perform the laboratory component of Foundation Medicine's FoundationOne® assay at the WuXi Genome Center in Shanghai, the first and only CLIA-certified laboratory in China.
Foundation Medicine will offer China-based products and services to global biopharmaceutical partners to support their clinical research and development efforts in China. Financial terms of the collaboration are not being disclosed.
"China is poised to become the second-largest pharmaceutical market within the next few years," said Dr. Ge Li, chairman and chief executive officer of WuXi. "WuXi has seen rapidly increasing demand for molecular profiling services from biopharmaceutical companies as they scale up R&D operations and early development activities in the region. We are pleased to partner with Foundation Medicine, the recognized global leader in comprehensive genomic profiling and a trusted partner of our customers, to provide best-in-class genomic testing to support targeted oncology therapeutic development in China."
"WuXi is the recognized leader in providing high-quality R&D services in China to the biopharmaceutical industry," said Michael J. Pellini, M.D., president and chief executive officer of Foundation Medicine. "The development and use of targeted therapies and comprehensive diagnostic tests in oncology are expected to grow significantly in China. WuXi's leadership position in China makes WuXi an ideal partner as Foundation Medicine expands its global reach to support targeted drug development and clinical entry into this rapidly growing market."
Foundation Medicine is working with more than 20 biopharmaceutical companies to provide comprehensive genomic profiling in more than 100 studies in 2014 alone. Publicly announced research partners include AstraZeneca, Eisai, Johnson & Johnson, Novartis, and Sanofi.
2nd AI Pharma Innovation: Drug Discovery 2019 Summit
Feb 27 - Feb 28, 2019
5th International Congress on Epigenetics & Chromatin
Aug 22 - Aug 23, 2019
14th World Congress on Medicinal Chemistry and Drug Design
Jun 10 - Jun 11, 2019
International Conference on e-Health and Healthcare Innovations
May 08 - May 09, 2019