Memorial Sloan-Kettering Cancer Center in New York City has entered into a deal with Foundation Medicine to develop a new molecular-based diagnostic test to optimize the treatments for hematologic cancers. The deal is intended to accelerate Foundation’s product development in molecular diagnostics. The company, which is based in Cambridge, Mass., and operates a CLIA-certified laboratory there as well, currently has a single product on the market. FoundationOne provides genomic profiles on solid tumors. The $5,800 test provides oncologists information to determine more specific clinical pathways for treating their patients. The primary hematologic cancers include leukemia, lymphoma, and myeloma. There are about 48,000 cases of leukemia diagnosed in the United States every year, while another 1 million patients are battling various forms of lymphoma and myeloma. “We are partnering with Foundation Medicine to develop a best-in-class assay for hematologic cancers because we view achieving this goal as an extension of our mission as a comprehensive cancer center: Making it possible for all patients to be treated with the therapy that is matched with their individual cancer,” said Craig B. Thompson, M.D., Sloan-Kettering Cancer Center’s president and chief executive officer. Sloan-Kettering is the largest private cancer research institution in the United States. […]
Memorial Sloan-Kettering Cancer Center in New York City has entered into a deal with Foundation Medicine to develop a new molecular-based diagnostic test to optimize the treatments for hematologic cancers.
The deal is intended to accelerate Foundation’s product development in molecular diagnostics. The company, which is based in Cambridge, Mass., and operates a CLIA-certified laboratory there as well, currently has a single product on the market. FoundationOne provides genomic profiles on solid tumors. The $5,800 test provides oncologists information to determine more specific clinical pathways for treating their patients.
The primary hematologic cancers include leukemia, lymphoma, and myeloma. There are about 48,000 cases of leukemia diagnosed in the United States every year, while another 1 million patients are battling various forms of lymphoma and myeloma.
“We are partnering with Foundation Medicine to develop a best-in-class assay for hematologic cancers because we view achieving this goal as an extension of our mission as a comprehensive cancer center: Making it possible for all patients to be treated with the therapy that is matched with their individual cancer,” said Craig B. Thompson, M.D., Sloan-Kettering Cancer Center’s president and chief executive officer. Sloan-Kettering is the largest private cancer research institution in the United States.
Under the terms of the deal, Sloan-Kettering researchers will focus on RNA and DNA sequencing to develop a new test to help craft more focused treatments for hematologic cancer patients. Foundation will contribute technology and computational algorithms, as well as market and distribute the test.
“Our approach is to collaborate with leaders like Memorial Sloan-Kettering across all areas of clinical oncology and cancer genomics and seek partners who are equally committed to the changing paradigm of cancer care,” said Michael J. Pellini, M.D., Foundation Medicine’s chief executive officer. “This is the ideal partnership to support the development of our new product for patients with hematologic malignancies.”
A Sloan-Kettering spokesperson did not respond to a request for comment as to whether the deal contains a revenue-sharing component.
The new test is expected to be available by the end of 2013, officials said.
