foundation medicine

whats ups w/foundation medicine?? good/bad/ugly. anyone know about their management? rumors? thanks

 

Check out all the Forbes Articles about them. Thing is they have an extensive cancer database that they use in an algorithm. Actually they really only have this database. Algorithm is not theirs and they run the same PCR menu as everyone else. It's the database that is the big thing. They run Alk for e ample on more than just lung. Some docs think they are useful others a load of houe!

 

Check out all the Forbes Articles about them. Thing is they have an extensive cancer database that they use in an algorithm. Actually they really only have this database. Algorithm is not theirs and they run the same PCR menu as everyone else. It's the database that is the big thing. They run Alk for example on more than just lung. Some docs think they are useful others a load of houe!

 

They are using NGS not PCR. Assay has created some excitement in areas. Not so sure about cost, reimbursement or clinical utility. They appear to be well funded for a start up (Bill Gates, Google Ventures). Top notch science group form MIT and Havard? Hope this helps!

 

So who is the arrogant guy walking around USCAP.

 

Arrogant? You probably used to be cocky when oncotype was new. Foundation is going to B slap you and your old technology. You are probably jealous because you are micromanaged and make less bonus than the average pharma rep. Ha Ha!

 

Anyone have any feedback on interviews with this company? I just got a recruiter call for a sales job. Salary, incentives, corporate culture?

 

East coast or west coast positon...big difference in your manager.

Also...I would look at this as shorterm...

 

Had an opportunity to interview with them. Culture seems very good. Marketing is weak. Never discussed salary. Can't help there. Lots of former Genzyme are there now internally

 

Quoted from the Caris threads
Re: how do you say.....
Genetic diversity within tumors (also known as clonal mosaicism) is an achilles heel for specialized genetic testing of common epithelial tumors. Next generation DNA sequencing studies (NGS) show that a large colon, pancreas, lung, and breast cancers frequently have greater than 1000 genetically distinct clones. Targeted therapy will only kill a proportion of the tumor cell clones and have a minimal impact on overall survival and disease free survival. Expensive 20K test looking at haphazard druggable targets is essentially useless. Few exceptions with a few special tumors (Gleevec for CML and Xalkori for NSCLC with and ALK-1 rearrangement) but as a general rule expensive cancer tests that are not FDA approved as a companion diagnostic will go unpaid.

Will happen to Foundation too!

 

Some investors with a successful track record see a bright future and potential return. See below.


www.foundationmedicine.com/.../2013_01_08_FMI_Series_B_Ext_...
File Format: PDF/Adobe Acrobat - Quick View
Jan 8, 2013 – Foundation Medicine Expands Series B Financing to $56 Million. Bill Gates, Evan Jones and Yuri Milner Join Existing Investors; ...

 

Nope. This guy has like years of oncology experience in hem, lung etc. Master's too pret sure. Rumor is he got nixed. Acad. docs gave me inside view on them. Said they'll do it themselves, just a cool test, common machine and hype with no reimb. Thinki Ariad Incyte

 

That's what my academics told me similarly. And that they will eventually do it themselves anyway. Obama is not writing this check I bet'cha anytime soon. "As a general rule expensive cancer tests that are not FDA approved as a companion diagnostic will go unpaid"

 

Speaking as a payer, I can tell you that FDA approval means squat for our coverage decisions. It's all about the proven analytical validity, clinical validity, and clinical utility studies. For Foundation, we're pointing to the data reviews by www.hayesinc.com. Foundation's getting zero traction with them so far...

 

I was told they will be expanding their sales force again. Any feedback from the current reps? What was the traffic like at their ASCO booth? Thanks.

 

THE WOODLANDS, Texas--(BUSINESS WIRE)--Physicians in The US Oncology Network, supported by McKesson Specialty Health, announced today the selection of med fusion and Foundation Medicine as their preferred diagnostic labs. This new relationship is expected to advance the delivery of high-quality, precision medicine and the appropriate use of molecular diagnostics, supporting The US Oncology Network in continuing to deliver high-quality, cost-effective cancer care.


“We’re very excited about the selection of med fusion and Foundation Medicine to help us with our precision medicine initiative. They are both leaders in molecular testing and will offer physicians in The US Oncology Network a broad array of testing services”
.
“We’re very excited about the selection of med fusion and Foundation Medicine to help us with our precision medicine initiative. They are both leaders in molecular testing and will offer physicians in The US Oncology Network a broad array of testing services,” says Marcus Neubauer, MD, medical director of Oncology Services for McKesson Specialty Health and The US Oncology Network.

The US Oncology Network is one of the nation’s largest networks of community based oncology physicians and integrated cancer care practices. Through a physician-led request for proposal (RFP) process, The Network selected med fusion and Foundation Medicine from a broad field of candidates.

Located in Lewisville, Texas, med fusion was selected for its logistical capabilities and broad clinical testing menu and will serve as the diagnostic gateway for The US Oncology Network.

Foundation Medicine, a molecular information company, was selected for its FoundationOne™ test, which offers a fully informative genomic profile useful in many cancer types and clinical scenarios. Med fusion and Foundation Medicine will also contribute guidance and educational support around genomics-based oncology. Working with both companies allows physicians in The US Oncology Network to meet the needs of patients with a variety of types and stages of cancer.

“Molecular diagnostics are becoming increasingly important in oncology care and it’s imperative for physicians to have the support they need to order the right test at the right time,” says Dr. Neubauer. “The US Oncology Network empowers its affiliated physicians to collaborate on important topics like precision medicine, molecular diagnostics and evidence-based treatments so that all physicians in The Network have easy access to the tools, resources and support necessary to provide patients with high-quality cancer care.”

By working with med fusion and Foundation Medicine, physicians in The US Oncology Network will have a simplified technology solution that will streamline ordering and data collection, provide access to and guidance about use of the most advanced cancer testing, and support US Oncology Research clinical trials.

“There is an onslaught of new tumor profile tests from clinical labs. We would like to give physicians in The Network guidance on which tests to order for which patients and help payers understand how these tests will improve patient care and potentially reduce overall cost of care,” says Neubauer.

“Clinical trials are a critical part of patient care, and molecular data is now often required to enroll patients in trials,” says Steve Jones, MD, medical director for US Oncology Research, a nationwide network of physician investigators supported by McKesson Specialty Health. “This initiative will improve our ability to identify and enroll patients in these targeted trials.”

Precision Medicine—the tailoring of medical treatment to the genetic characteristics of each patient’s tumor—is a priority for The US Oncology Network as more therapies become targeted to specific genetic mutations. Tumor profiles provide varying amounts of genomic information on a patient’s tumor. Many companies, both large and small, are offering these tests and prevalence is expected to grow.

“A great deal of variability exists today. As a network of cancer care doctors dedicated to identifying and driving solutions for the delivery of quality cancer care, we, in The US Oncology Network, are determined to understand and provide guidance as to which tests are necessary to determine which treatment is most effective for which patients,” says Neubauer.

In addition to its molecular diagnostic initiative, The US Oncology Network is driving several other precision medicine related initiatives including the development of diagnostic pathways, which will be critical as the complexity of diagnostics grows. Testing and implementing diagnostic pathways is another way The US Oncology Network will help clinicians address variations in treatment to help improve care, while having a positive impact on oncology cost trends.

About The US Oncology Network

The US Oncology Network is the nation’s largest network of integrated, community-based oncology practices dedicated to advancing high-quality, evidence-based cancer care. A physician-led organization, The US Oncology Network unites like-minded physicians and clinicians around a common vision of improving patient outcomes and quality of life. Leveraging healthcare information technology, shared best practices, precise evidence-based guidelines and quality measurements, physicians within The US Oncology Network are pioneering new ways to achieve this vision. The US Oncology Network is committed to strengthening patient access to integrated care in local communities across the nation, including collaboration with a variety of regional payers, hospitals and academic institutions. The US Oncology Network is supported by McKesson Specialty Health, a division of McKesson Corporation focused on empowering a vibrant and sustainable community patient care delivery system. For more information, visit www.usoncology.com.

About McKesson Specialty Health

McKesson Specialty Health, a division of McKesson Corporation, empowers the community patient care delivery system by helping community practices advance the science, technology and quality of care. Through innovative clinical, research, business and operational solutions, facilitated by integrated technology systems, we focus on improving the financial health of our customers so they may provide the best care to their patients. For more information, visit www.mckessonspecialtyhealth.com.

About US Oncology Research

Supported by McKesson Specialty Health and The US Oncology Network, US Oncology Research draws from a network of experienced investigators and dedicated clinical staff who specialize in Phase I through Phase IV oncology clinical trials. US Oncology Research serves approximately 80 research sites and nearly 225 locations managing about 225 active trials at any given time. Physicians in the research network have enrolled more than 55,000 patients in over 1,200 trials since inception in 1992 and have contributed to the development of 46 cancer therapies approved by the FDA. For more information call (800) 482-6700, option 4 or visit www.usoncology.com/oncologists.


Contacts


The US Oncology Network
Jennifer Horspool, 949-933-4300 or 424-247-7858
Jennifer.Horspool@usoncology.com

 

Foundation could be next!!

http://www.biocentury.com/dailynews/...ve-biosciences

 

I heard they are in trouble at ASCO. The cash burn is out of control.

 

Trouble is an understatement. No money to be made here.

 

losing millions every quarter and ramping up to get more use out of first time users for their assays that look at too many genes with no medical mgmt