Freenome

Freenome is a California-based biotechnology company that focuses on developing tests for early cancer detection using a routine blood draw. The genetic profiling startup has developed a machine learning and AI-powered multiomics platform that was built on thousands of cancer-positive samples, allowing it to learn which biomarker pattern signifies a type of cancer. While most competitors rely only on tumor-derived markers, Freenome’s platform detects key biological signals beyond mutations that are early warning signs for cancer, incorporating both tumor and non-tumor-derived indicators which support early detection. 

The platform analyzes an individual’s cell-free DNA, methylation (RNA processing), and proteins to gain insights into immune response, tumor heterogeneity, and gene expression changes in the body associated with tumor formation. As of January 2022, the company was carrying out a study, known as the PREEMPT CRC clinical trial, to develop a blood test for the early detection of colorectal cancer (CRC). The company was also looking to enroll 25,000 participants for a study to validate its blood test and to support its submission for approval by the US Food and Drug Administration. Its CRC screening test integrates personalized clinical insights with health systems via more than 100 healthcare partnerships across the US. 

The company is also extending its multiomics platform with biomarkers for other cancer types, including pancreatic cancer and breast cancer. It plans to launch additional multi-cancer clinical studies in February 2022, focused on personalized screening tests based on an individual’s risk. 

In May 2023, Freenome acquired Oncimmune for a total consideration of GBP 13 million (~USD 16.1 million). The acquisition provides Freenome with additional clinical and commercial resources, including a pipeline of autoantibody targets for cancer indications.

Key customers and partnerships

In June 2023 , Freenome and Walgreens entered a multi-year partnership to advance clinical studies focused on the early detection of cancer through the use of Freenome's blood-based tests.

Funding and Financials

In January 2022, the company surpassed USD 1 billion in funding after receiving an investment from Roche amounting to USD 290 million, which was used to advance its CRC screening test and expansion of its multiomics platform to other cancers.