PhD | Director Therapeutic Innovation and BaseLaunch
Tel. +41 61 295 50 17stephan. emmerth@baselarea. swiss
Roche is set to acquire the outstanding shares in Foundation Medicine for US$2.4 billion. This puts the total value of the cancer research company at US$ 5.3 billion. Roche had previously purchased a share of 57 per cent about three years ago.
As a result of this acquisition, Roche is able to enhance the development of personalised medicines and care for patients with cancer, a press release reported. Daniel O’Day, CEO of Roche Pharmaceuticals, regards this as an important step in the strategy of the Basel Group. He anticipates new insights in the area of molecular technology and genomic profiling. Molecular information and its analysis are expected to play a major role in the profiling of tumours and selecting the right cancer treatment in the future.
According to the press release, Foundation Medicine will continue as an independent operating company. The closing of the transaction is expected to take place in the second half of 2018.