Business

Bill Gates invests in Foundation Medicine, which uses genome data for cancer diagnostics

Foundation Medicine Inc. said that Bill Gates of Microsoft fame is among investors who expanded the Cambridge company’s Series B financing round by an additional $13.5 million.

Microsoft Corp. founder Bill Gates. (AP File Photo/Ted S. Warren)

“Advances in understanding the human genome are having a dramatic impact on almost every area of medicine,” Gates said in a statement. “Foundation Medicine’s approach in harnessing the power of genomic data to improve care for cancer patients could represent an extremely important step forward in improving routine cancer care.”

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Besides Gates, new investors included Evan Jones and Yuri Milner, said the company, which added that their investments bring the total raised in the round to $56 million.

Foundation Medicine’s first product is called FoundationOne, and it is a genomic assay for all solid tumors that analyzes tumor DNA and provides a concise report to help doctors match patients with the targeted drugs or clinical trials best suited to treat their individual cancers, the company said.

Chris Reidy can be reached at reidy@globe.com.
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