Bristol-Myers Squibb Expands Precision Oncology Partnership with Foundation Medicine

Foundation Medicine recently announced it has expanded its collaboration with Bristol-Myers Squibb (BMY) to develop FoundationOne CDx as a next-generation sequencing-based companion diagnostic for identifying patients with homozygous MTAP deletion across multiple indications for an investigational targeted therapy.

The Product

FoundationOne CDx is a comprehensive genomic sequencing assay approved by the U.S. Food and Drug Administration (FDA) used to identify targetable genetic alterations in solid tumors. In this expanded partnership, the test will be used to detect homozygous MTAP deletion, a genetic alteration found in several cancer types, allowing patient matching with an investigational therapy from Bristol-Myers Squibb.

Pricing and Availability

Bristol-Myers Squibb and Foundation Medicine have not disclosed pricing details or a launch timeline. The test is expected to become available at specialized medical centers following necessary regulatory approvals.

Competition

Bristol-Myers Squibb competes in precision oncology with companies like Roche (RHHBY), which has its own companion diagnostic tests, as well as emerging biotech firms developing targeted therapies for MTAP deletion. This expanded partnership gives Bristol-Myers Squibb an advantage in identifying eligible patients for its investigational treatment.

Potential Impact on the Company

The move underscores Bristol-Myers Squibb's commitment to strengthening its precision oncology pipeline. If the investigational therapy succeeds and gains approval, it could open a new market for patients with MTAP deletion, potentially contributing to the company's long-term revenue growth.