Freenome Raises $270M In Series C, Accelerates Trial For Colorectal Cancer Test

26 Aug 2020

Funding will accelerate an FDA registrational study of the company's first liquid biopsy product, as competition increases in early cancer detection.

Freenome, which has developed a blood test for early detection of colorectal cancer, announced on 26 August it has raised $270m in a series C financing round, bringing the total funding to more than $500m since it was founded in 2014. The South San Francisco, CA-based privately held company said it will use the proceeds to accelerate the PREEMPT CRC clinical trial, which will enroll 14,000 participants.

The company’s CEO, Gabe Otte, said in a statement that Freenome had to “adapt our clinical trial during the COVID-19...