The diagnostics technology developer has raised another $290m from existing investor Roche, which will support it as it looks to expand its products to additional cancers.
Pharmaceutical firm Roche invested $290m in US-based cancer detection technology developer Freenome on Tuesday, roughly a month after it announced its $300m series D round.
Founded in 2014, Freenome has developed a multiomics platform which combines molecular biology and machine learning to detect cancer in the early stages through a routine blood draw by decoding complex cell-free biomarker patterns.
The company’s series D round was co-led by Perceptive Advisors and RA Capital Management and included internet and technology conglomerate Alphabet’s GV unit as well as corporates Kaiser Permanente, Novartis and Intermountain Healthcare, the last through Intermountain Ventures.
Roche also participated in the round, but Freenome confirmed to Global Corporate Venturing the latest investment is entirely new.
The company’s initial product is a blood test for colorectal cancer screening that is in the final stages of enrolment for a prospective registrational study. It is also expanding its technology into other…
