Advertisment

Freenome Raises $254M to Accelerate Development of Early Cancer Detection Tests

author-image
Mason Walker
New Update
NULL

Freenome Raises $254M to Accelerate Development of Early Cancer Detection Tests

Advertisment

In a major development for the healthcare sector, Freenome, a firm specializing in the creation of cancer-detecting blood tests, has raised $254 million in a funding round spearheaded by Roche. The funds will be used to develop tests capable of detecting multiple early-stage cancers, a breakthrough that could potentially save countless lives.

Advertisment

Freenome's Innovative Approach

Freenome's innovative approach lies in their multiomics platform. This technology applies computational biology and machine learning to perform genomic, transcriptomic, methylomic, and proteomic analyses on standard blood draws. The aim is to identify the earliest signs of cancer in a person's DNA, a feat that has the potential to revolutionize cancer detection and treatment. The company is currently developing a suite of multi- and single-cancer tests, with a particular focus on screening for colorectal and lung cancer.

Clinical Studies and Collaborations

Advertisment

As part of its ambitious agenda, Freenome has initiated several clinical studies. The PROACT LUNG study, which aims to recruit as many as 20,000 participants, will test Freenome's lung cancer screening test. In addition, the PREEMPT CRC study has already completed enrollment with over 40,000 participants to validate a colon cancer blood test.

In addition to these studies, Freenome has also acquired UK-based cancer immunodiagnostics firm Oncimmune and initiated a partnership with Walgreens to advance its early detection tests. Such strategic collaborations demonstrate Freenome's commitment to leverage global expertise for the development of its groundbreaking technology.

Investor Confidence and Future Plans

Advertisment

The recent funding round, led by Roche, also saw participation from other key investors like Novartis, BlackRock, Alphabet's GV, Bain Capital Life Sciences, Cormorant Capital, ARK Investments, and the American Cancer Society’s BrightEdge Ventures. This broad spectrum of investors underscores the high level of confidence in Freenome's potential to revolutionize early cancer detection and treatment.

The company plans to use the newly-acquired funds to progress its clinical programs and expand its platform capabilities. Freenome's initial programs focus on deadly and actionable cancers such as colorectal and lung cancer, but they are also developing tests to screen for other cancers as part of their multi-cancer research programs.

Bringing the Battle to Cancer

Freenome's innovative approach brings renewed hope in the battle against cancer. By detecting cancer in its earliest, most treatable stages, Freenome's tests could significantly improve patients' prognosis and quality of life. Moreover, their non-invasive nature, involving just a simple blood draw, makes these tests a practical and accessible option for widespread cancer screening.

With the support of its investors and the scientific community, Freenome is poised to make significant strides in the realm of cancer detection and treatment. The recent funding round marks a significant milestone in this quest, bringing the company one step closer to its vision of a world where cancer can be detected and treated at the earliest possible stage.

Advertisment
Chat with Dr. Medriva !