Foundation Medicine, a US-based developer of genomics-based cancer diagnostic tests backed by search engine Google, has extended its series B round by $13.5m from three angel investors.
The angels are Bill Gates, co-founder of software provider Microsoft and his eponymous medical foundation, Evan Jones, a managing member of JVen Capital and former executive chairman of medical company Digene, and Yuri Milner, founder of DST Global.
In September, Foundation Medicine raised $42.5m in a series B round, first close, from WuXi Corporate Venture Fund, the corporate venturing unit of China-based medical biotich and pharmaceutical research firm WuXi AppTech, Roche Venture Fund, a corporate venturing unit of the Switzerland-based pharmaceutical company, Deerfield Management Company, an investment vehicle for asset management firm CIFC, Laboratory Corporation of America, an undisclosed investor and venture capital (VC) firms, Casdin Capital and Redmile Group.
The round also included returning series A backers Google Ventures, the corporate venturing unit of Google, and VC firms Kleiner Perkins Caufield & Byers and Third Rock Ventures. Together they raised $33.5m for Foundation Medicine in October last year. One undisclosed fund and one undisclosed strategic investor also joined the round.
Founded in 2010, Massachusetts based Foundation Medicine develops analytical software for tumor patients with the intention of matching patients to suitable treatments based on their genetic traits.
According to Foundation’s press release the funds will be used to scale up commercial operations and research new diagnostics products.