Foundation Medicine shores up capital with $42.5m

Sep 24, 2012 • Sida Liu

Foundation Medicine ploughs ahead with series B financing round drawing investments from life science research firm WuXi Apptech, asset management firm CIFC and previous backers Google Ventures, and Roche Venture Fund amongst others.

Oncological diagnostics company Foundation Medicine has raised $42.5m in a series B round from WuXi Corporate Venture Fund, the corporate venturing unit of China-based medical biotich and pharmaceutical research firm WuXi AppTech, Roche Venture Fund, a corporate venturing unit of the Switzerland-based pharmaceutical company, Deerfield Management Company, an investment vehicle for asset management firm CIFC and venture capital (VC) firms, Casdin Capital and Redmile Group.

The round also included returning series A backers Google Ventures, the corporate venturing unit of…

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