Roche Builds on its Foundation Medicine Deal
Three years after its first investment, Roche AG (SIX: RO) bought the rest of Foundation Medicine, Inc., a Cambridge, Massachusetts-based molecular information company. In January 2015, Roche plunked down $1.03 billion to acquire approximately 57% of Foundation Medicine from its venture capital backers Google Ventures, Third Rock Ventures and Kleiner, Perkins, Caufield & Byers. Roche acquired approximately 15.6 million shares in Foundation at $50 per share. It also invested $250 million by acquiring 5 million newly issued shares at $50 per share. My, how times (and markets) have changed. On June 19, Roche announced it would pay $2.4 billion to buy the shares it didn’t own. The... Read More »
Roche Deal for Flatiron Health Builds its Oncology Muscle
Roche (SIX: RO) couldn’t let a good startup slip away. The Swiss drug maker announced it will pay $1.9 billion to keep New York City-based Flatiron Health, Inc. from going public. When it was founded in 2012, Flatiron’s goal was to gather and analyze data on cancer treatments and sells software based on those insights to help researchers develop drugs more quickly, and with more targeted precision. Toward that end, the company produced an oncology-specific electronic health record (EHR). It currently partners with more than 265 community cancer clinics, six major academic research centers and 14 out of the top 15 therapeutic oncology companies. Roche already holds a 12.6% stake... Read More »Schedule a demo
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