Roche-Backed Freenome Secures $254M Funding to Accelerate Early Cancer Detection Platform

1. Freenome, a biotechnology company focused on early cancer detection through blood tests, has recently raised $254 million in new funding.
2. The financing was led by Roche and included existing and new investors such as a16z Life Sciences Growth Fund, American Cancer Society’s BrightEdge Ventures, and many others.
3. The funds will be used to progress Freenome's clinical programs and expand the capabilities of their early cancer detection platform.
4. Freenome's platform leverages a multiomics approach, combining computational biology, machine learning, and other technologies to develop screening tools aimed at detecting cancer in its earliest stages.
5. The company has initiated two registrational studies focused on colorectal and lung cancer, with additional programs for other single-cancers and for a multi-cancer research effort, including the Vallania Study.
6. The management at Freenome believes that their multimodal approach is crucial to identify early-stage cancer given the inherent heterogeneity of the disease.
7. Freenome aims to make cancer screening more accessible by utilizing standard blood draws, while also partnering with healthcare organizations and population health decision-makers to integrate their technology.