CAMBRIDGE, Mass.--(BUSINESS WIRE)--Foundation Medicine, Inc. (NASDAQ:FMI) today announced proposed changes to its Board of Directors in connection with its pending strategic collaboration with Roche.
Under the terms of the agreement with Roche, Foundation Medicine’s board will increase to nine directors upon the closing of the transaction, including three board designees selected by Roche. In advance of the anticipated transaction closing, Roche has identified its three director designees: Daniel O’Day, Roche Pharmaceuticals Division, chief operating officer and member of the Roche corporate executive committee; Sandra J. Horning, M.D., global head, product development and chief medical officer for Roche/Genentech; and Michael D. Varney, Ph.D., head Genentech Research and Early Development.
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