The World & #039;s Most Innovative Medtech Companies

Innovation is medtech's middle name, so it's always a nice surprise to see companies in the industry honored for being innovative. Fast Company released a list Wednesday recognizing 10 such companies in the biotech sector. Below, we highlight the companies on the list that are developing medical devices or diagnostics (excluding companies that are more on the pharma and biotech side of the life sciences industry). Foundation Medicine Foundation Medicine develops genomic profiling assays to pair cancer patients with relevant treatments and clinical trials. The company was ranked first among the Top 10 companies in Fast Company's biotech category. Last year Roche, which already owned a majority stake in the Cambridge, MA-based company, decided to buy the rest of Foundation Medicine in a $2.4 billion transaction that valued the company at $5.3 billion. The deal marked a turning point in Roche's relationship with Foundation Medicine, which dates back to January 2015 when Roche invested roughly $1.03 billion to acquire a majority interest in the company. In December 2017, Foundation Medicine scored FDA approval for a first-of-its-kind companion diagnostics test. The FoundationOneCDx is designed to identify patients who may benefit from treatment with specific targeted therapies, help inform the use of other targeted cancer therapies, provide a tool for doctors to identify opportunities for patients to participate in clinical trials, and help bio...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news