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Pfizer, Foundation Medicine to develop companion diagnostics

Pfizer Inc. entered a broad partnership with Foundation Medicine Inc. to develop and commercialize companion diagnostics for its oncology portfolio.

Through the partnership, Pfizer is expected to accelerate the discovery and development of precision oncology therapeutics by using Foundation Medicine's platform technology.

The companion diagnostics, or CDx, will be included in Foundation Medicine's FoundationOne CDx, a U.S. Food and Drug Administration-approved comprehensive genomic profiling assay for all solid tumors.

Further, Pfizer will have access to Foundation Medicine's data analytics platform, FoundationInsights, for its novel biomarker discovery and the optimization of its clinical trial design.

The company's oncology pipeline includes 10 FDA-approved oncology medicines for solid tumors and hematologic malignancies, as well as 17 assets in clinical development and 19 phase three studies.

Roche Holding AG is the majority owner of Foundation Medicine.