Today, Foundation Medicine, Inc. and H3 Biomedicine Inc. announced that they will collaborate to develop precision therapies for cancer.
The companies said that they have entered a multi-year collaboration for the discovery and development of precision medicines in oncology, utilizing Foundation Medicine’s comprehensive genomic knowledgebase of more than 35,000 genomic profiles, FoundationCORE, with H3 Biomedicine’s drug discovery engine and computational biology platform. The goal of the collaboration is to identify potential drug targets based on the unique genomic dependencies of individual cancers, rapidly accelerate clinical development, and lead to the commercialization of new, safe and effective precision medicines for people living with cancer.
“Large-scale genomic data sets are the key to identifying actionable targets and addressing the multitude of difficult-to-treat cancers,” said Markus Warmuth, MD, president and chief executive officer of H3 Biomedicine. “More than ever before, we in cancer drug development have the benefit of an ever-growing arsenal of genomic information including publicly available data sets that inform validation of targets, development of therapies and translation from bench to bedside. In this regard, we believe Foundation Medicine offers one of the most comprehensive cancer genomics knowledgebases available. This collaborative effort will further empower our state-of-the-art discovery engines to deliver novel first-in-class medicines and improve our clinical development strategies by accessing a wealth of clinically annotated, genomic information at least in part derived from later-stage and metastatic cancers.”
H3 Biomedicine will pay Foundation Medicine a technology access fee for identification of target concepts arising from FoundationCORE and success milestones for selection, validation, clinical progression and commercialization of products developed from the program. Foundation Medicine is eligible to receive royalties on sales of any products resulting from the collaboration.
A move from a one-size-fits-all model to an effort to personalize medicine has gained traction after President Barack Obama’s State of the Union address where he announced the Precision Medicine Initiative. Obama has requested $215 million in new investment for the initiative. The approach takes into account individual variability in genes, environment and lifestyle for each person. Significant advances in precision medicine have been made for certain types of cancer already.
“This collaboration with H3 Biomedicine shows how Foundation Medicine is creating value through FoundationCORE,” said Michael J. Pellini, MD, president and chief executive officer of Foundation Medicine. “Recent scientific advances identifying the unique molecular drivers of cancer are elucidating new approaches to targeted drug development. FoundationCORE, our unique and rapidly growing genomic knowledgebase, can provide valuable insights for our life sciences partners and help them accelerate and increase the probability of success for clinical development of new targeted therapies for patients with cancer.”
Source: Foundation Medicine, Inc.