Cancer diagnostics company Foundation Medicine files for a $86 million IPO

By Renaissance Capital,

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Foundation Medicine, which develops diagnostic systems that assess genomic alterations in cancer cells and match patients with targeted therapies, filed on Monday with the SEC to raise up to $86 million in an initial public offering. The Cambridge, MA-based company, which was founded in 2009 and booked $15 million in sales for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol FMI. Foundation Medicine initially filed confidentially on June 24, 2013. Goldman Sachs, J.P. Morgan, Leerink Swann and Sanford Bernstein are the joint bookrunners on the deal. No pricing terms were disclosed.

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