Freenome Closes $270 Million Series C Financing to Advance Novel Multiomics Blood Testing Platform for Early Cancer Detection
Freenome Closes $270 Million Series C Financing to Advance Novel Multiomics Blood Testing Platform for Early Cancer Detection
08/26/20, 11:03 AM
Location
Money raised
$270 million
Industry
biotechnology
science and engineering
health care
Round Type
series c
Freenome, a privately held biotechnology company that has pioneered a comprehensive multiomics platform for early cancer detection with a routine blood draw, announced an oversubscribed $270 million Series C financing, bringing the company's total financing to over $500 million since the company’s launch. The proceeds will be used to accelerate the PREEMPT CRC™ clinical trial for Freenome’s blood test for colorectal cancer screening and precancerous lesion detection, advance a pipeline of blood tests for both the early detection and early intervention of additional cancers, and continue building the company’s proprietary multiomics platform. PREEMPT CRC is an FDA registrational study launched in May 2020 to support approval by the U.S. Food and Drug Administration (FDA) for the first front-line blood test to help the 45 million people who are currently not up-to-date on colorectal cancer screening guidelines in the U.S.
Company Info
Location
san francisco, california, united states
Additional Info
Freenome is a biotechnology company with a comprehensive multiomics platform for early cancer detection using a routine blood draw. The company combines its deep expertise in molecular biology with advanced computational biology and machine learning to detect disease-associated patterns among billions of circulating cell-free biomarkers. Freenome is headquartered in South San Francisco, California.
1 Joseph DA, King JB, Dowling NF, Thomas CC, Richardson LC. Vital Signs: Colorectal Cancer Screening Test Use — United States, 2018. MMWR Morb Mortal Wkly Rep 2020;69:253–259.
2 United States Preventive Services Task Force (USPSTF), "Colorectal Cancer: Screening", May 18, 2021. https://www.uspreventiveservicestaskforce.org/uspstf/recommendation/colorectal-cancer-screening
SOURCE Freenome Holdings, Inc.