Freenome

Freenome

Biotechnology company for early cancer detection

About Freenome

Simplify's Rating
Why Freenome is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Biotechnology

Healthcare

Company Size

201-500

Company Stage

Late Stage VC

Total Funding

$1B

Headquarters

San Francisco, California

Founded

2014

Overview

Freenome focuses on improving cancer detection through advanced blood tests. The company uses a multiomics approach, analyzing various biological data types, including genomics and proteomics, to find cancer markers in the blood. Its primary clients are healthcare providers and research institutions, and it generates revenue by selling these non-invasive diagnostic tests. Freenome is also involved in clinical trials and research collaborations. With significant funding, including a recent $270 million investment, the company aims to enhance its colorectal cancer blood test and expand its clinical trials. Freenome's goal is to lead in cancer diagnostics by providing early detection solutions while fostering a collaborative and inclusive workplace.

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Simplify's Take

What believers are saying

  • Recent $254 million funding boosts clinical programs and platform expansion.
  • Partnership with Walgreens enhances clinical trial diversity and patient recruitment.
  • PROACT LUNG study positions Freenome as a leader in lung cancer diagnostics.

What critics are saying

  • Employee layoffs may affect morale and innovation efforts.
  • Integration of Oncimmune Ltd. could divert focus from core projects.
  • Competitive landscape in cancer detection may impact Freenome's market share.

What makes Freenome unique

  • Freenome uses a unique multiomics approach for early cancer detection.
  • The company focuses on non-invasive blood tests for cancer screening.
  • Freenome's platform designs personalized health conditions based on cell-free genome analysis.

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Funding

Total Funding

$1032.6M

Above

Industry Average

Funded Over

6 Rounds

Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison
Coming Soon

Benefits

Competitive market-based salaries

Annual bonus opportunities

Relocation packages

Medical, dental, & vision coverage

401k

Wellness programs

Equity

PTO

Growth & Insights and Company News

Headcount

6 month growth

-2%

1 year growth

1%

2 year growth

1%
SDBN
Apr 24th, 2024
Cancer testing company Freenome to lay off 100 employees

Cancer testing company Freenome to lay off 100 employees.

GlobalData
Apr 14th, 2024
Freenome swings $254m investment

The announcement comes alongside two ongoing clinical trials launched by Freenome, including its prospective PREEMPT CRC study (NCT04369053), a longitudinal real-world data study consisting of under 40,000 participants evaluating the company's blood-based screening test among adults at average risk for CRC.

Freenome
Feb 16th, 2024
Freenome Raises $254 Million in New Funding to Accelerate its Platform for Early Cancer Detection | Freenome

Roche led the financing alongside existing and new investors. The funds will progress clinical programs and expand platform capabilities.

PR Newswire
Dec 12th, 2023
Freenome Initiates Proact Lung Clinical Study For The Early Detection Of Lung Cancer Using Blood Test Developed On Multiomics Platform

– Registrational study targets enrollment of 20,000 individuals at high risk of lung cancer –SOUTH SAN FRANCISCO, Calif., Dec. 12, 2023 /PRNewswire/ -- Freenome, a privately held company developing multiomics blood tests for early cancer detection, today announced the initiation of its PROACT LUNG study and provided an update on its lung cancer research, including the ongoing Vallania study. The study is intended to validate the clinical performance of the Freenome blood test for lung cancer screening. The test combines lung cancer-specific biomarkers with cancer-common markers identified on Freenome's proprietary multiomics platform. This is Freenome's second blood-based test developed on the platform and being evaluated in a prospective clinical study.Early detection of lung cancer, while in its most treatable stage, leads to better clinical outcomes for patients.1,2 Recently, the United States Preventive Services Task Force expanded the recommended ages and smoking history for lung cancer screenings, reaffirming the importance of early detection. In people at high risk for lung cancer, annual screening with a low-dose CT (LDCT) scan is typically recommended as part of the standard of care (SOC)

AgFunder News
Oct 12th, 2023
Bytes To Bites Part Three – Wellness Wired: Leveraging Ai To Digitize Nutrition And Health

Editor’s Note: Eva Everloo is senior investment analyst, and Anina Troya is an investment analyst intern at agrifood tech investor PeakBridge.The views expressed in this guest commentary are the authors’ own and do not necessarily reflect those of AgFunderNews.From accelerated drug discovery and turbo-charged R&D to sparkling marketing copy and improved customer service, artificial intelligence (AI) and machine learning (ML) are being deployed in every field. But what do they bring to the food industry?In the third and final segment of a three-part deep dive into AI in food, Peakbridge explores the potential of AI to address the intersection of AI with nutrition and health.The rise of personalized nutritionChronic diseases such as cardiovascular diseases, cancer, diabetes, and respiratory conditions are the leading causes of illness, morbidity, and mortality in the United States and Europe, and constitute a significant portion of the global disease burden.In the US alone, they are responsible for 90% of the country’s $4.1 trillion annual healthcare, and they’re are on the rise, with 6 out of 10 US adults now having chronic diseases. Meanwhile, the Global Cancer Observatory (GLOBOCAN) forecasts that the global cancer burden is expected to increase to 28.4 million new cancer cases per year by 2040, with most cases occurring in low- and middle-income countries. Mental wellbeing should also be prioritized given the 13% rise in mental health conditions in the last decade.Factors exacerbating this situation include:Rise of unhealthy lifestyles: Diets low in fruits and vegetables and high in sodium and saturated fats are on the rise, alongside high rates of chronic stress, and sedentary lifestyles. Global dietary shifts: The globalization of food markets and the westernization of dietary habits have led to a surge in the availability and consumption of ultra-processed foods, pushing traditional diets to the sideline. This dietary shift has significant implications for healthcare as it affects overall well-being and health outcomes; this is exacerbated in regions where access to comprehensive healthcare and healthcare education is limited, and where there are stark economic disparities

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