Foundation Medicine aims to price initial public offering of its stock

Proceeds fund clinical trials, working capital and corporate purposes

By Devika Patel

Knoxville, Tenn., July 29 - Foundation Medicine, Inc. plans to price an initial public offering of its common stock with a 30-day greenshoe option, according to a Form S-1 filed Monday with the Securities and Exchange Commission.

Goldman, Sachs & Co., J.P. Morgan, Leerink Swann and Sanford C. Bernstein are the bookrunners.

Proceeds will be used for the expansion of the company's commercial and laboratory operations, ongoing and new clinical trials, building technology infrastructure and capabilities, as well as for working capital and other general corporate purposes, including operating costs.

Based in Cambridge, Mass., Foundation develops clinical products to treat cancer. The company intends to list its common stock on the Nasdaq under the symbol "FMI."

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