BioCentury
ARTICLE | Financial News

Foundation Medicine, Five Prime jump in IPO queue

July 30, 2013 12:09 AM UTC

Foundation Medicine Inc. (Cambridge, Mass.) and Five Prime Therapeutics Inc. (South San Francisco, Calif.) jumped in the IPO queue on Monday. Foundation Medicine filed to raise up to $86.3 million in an IPO underwritten by Goldman Sachs; JPMorgan; Leerink; and Sanford C. Bernstein, while Five Prime filed to raise up to $60 million in an IPO underwritten by Jefferies; BMO Capital Markets; Wells Fargo; and Guggenheim Securities.

Foundation Medicine markets its FoundationOne genomic profile to identify treatment options and clinical trials for cancer patients. The laboratory-developed test (LDT) identifies all somatically altered genes from formalin-fixed, paraffin-embedded (FFPE) tumor tissue samples that are validated targets for therapy or drivers of oncogenesis. The company raised $42.5 million in a series B round last September (see BioCentury, Sept. 24, 2012). ...