Foundation Medicine has entered into a strategic pilot collaboration with Novartis to develop, enhance and optimize Foundation Medicine's cancer genome panel test for Novartis' needs.
Novartis and Foundation Medicine will evaluate opportunities to collaborate on the production and commercialization of the test, if the pilot phase is successful.
The financial details of the agreement were not disclosed.
Foundation Medicine CEO Alexis Borisy said that this pilot collaboration with Novartis represents our first pharmaceutical partnership, and we are delighted to accomplish this important milestone with one of the cancer therapeutic companies.
"As part of this agreement, Foundation will leverage the broad contents and high quality of our cancer genome analysis platform. By delivering a clinical-grade analysis of molecular information, Foundation’s dedicated clinical research team will help our partners more rapidly translate novel findings into therapeutically applicable results," Borisy said.
"This collaboration is an important step forward for Foundation and could provide us with the basis for building successful cancer genome analysis platforms for future collaborations and partners.