Although still a relatively small enterprise, Foundation Medicine has begun a big push to distribute its products overseas. The company has appointed a vice president in charge of international development. Urmi Prasad Richardson, who previously held executive positions with Chiron, Novartis, and Immucor, is based in Germany. Meanwhile, the Massachusetts-based firm has struck a deal with the Spanish firm Laboratorios LETI for the distribution of its tests to physicians in Spain and Portugal. The availability of the test represents a significant technological expansion of the offerings by the Barcelona-based Laboratorios. Its diagnostics division has been heavy on basic tests such as assays for detecting HIV, respiratory tract infections, and diabetes. In addition to the deal with Laboratorios, Foundation Medicine has also obtained a CE mark to distribute its tests throughout the rest of Europe. “We are very pleased to have received a CE mark and look forward to expanding the availability and adoption of FoundationOne to customers in the European oncology community,” said Kevin Krenitsky, M.D., the company’s chief commercial officer and senior vice president of international strategy. Foundation Medicine officials said that it has issued reports to clinical customers in more than 40 nations outside of the United States. […]
Although still a relatively small enterprise, Foundation Medicine has begun a big push to distribute its products overseas.
The company has appointed a vice president in charge of international development. Urmi Prasad Richardson, who previously held executive positions with Chiron, Novartis, and Immucor, is based in Germany.
Meanwhile, the Massachusetts-based firm has struck a deal with the Spanish firm Laboratorios LETI for the distribution of its tests to physicians in Spain and Portugal. The availability of the test represents a significant technological expansion of the offerings by the Barcelona-based Laboratorios. Its diagnostics division has been heavy on basic tests such as assays for detecting HIV, respiratory tract infections, and diabetes.
In addition to the deal with Laboratorios, Foundation Medicine has also obtained a CE mark to distribute its tests throughout the rest of Europe.
“We are very pleased to have received a CE mark and look forward to expanding the availability and adoption of FoundationOne to customers in the European oncology community,” said Kevin Krenitsky, M.D., the company’s chief commercial officer and senior vice president of international strategy.
Foundation Medicine officials said that it has issued reports to clinical customers in more than 40 nations outside of the United States. It offers two molecular assays, FoundationOne for solid cancer tumors, and FoundationOne Heme for hematologic malignancies, sarcomas, and pediatric cancers. Genomic profiling of the cancers makes for more close matches to targeted drugs and clinical trials.
Takeaway: Even as it remains in the quick growth stage in the United States, Foundation Medicine is making an aggressive push for market share in Europe.
