Freenome, a South San Francisco, CA-based health technology company innovating disease management through non-invasive early detection and intervention, raised an additional $7m as an extension to its previously announced Series A funding.
The extension, which brings the total to nearly $72m, was led by Section 32, founded by former GV (Google Ventures) CEO Bill Maris, and included investments from Anne Wojcicki, co-founder and CEO of 23andMe, and other private and corporate investors. Additional investors in the Series A financing include Andreessen Horowitz, Asset Management Ventures, Charles River Ventures, Data Collective (DCVC), Founders Fund, GV (Google Ventures), Innovation Endeavors, Polaris Partners, Spectrum 28 and Verily, the life sciences subsidiary of Alphabet.
The proceeds are being used to accelerate clinical trials, expand research and bring the company’s disease screening products to market.
Founded in 2014 by Gabe Otte, Chief Executive Officer, Freenome has been using a combination of machine learning, biology and computer science to create disease screening assays. Through internal research programs, Freenome has discovered novel signatures independent of traditional mutation calling, such as immunological and metabolic changes in cell-free DNA (cfDNA) and other analytes. The company is currently focused on scaling its technology and the accuracy of screenings for four types of cancer – lung, colorectal, breast and prostate – with plans to address other forms of cancer and diseases.
To date, Freenome has collaborated with more than 25 research partners around the world – including Moores Cancer Center at UC San Diego Health (UCSD), University of California San Francisco (UCSF) and Massachusetts General Hospital (MGH) – and has gathered and processed thousands of samples through their active research and clinical trials programs. The company is also working with five pharmaceutical companies to validate its software as a potential solution for clinical trial stratification and precision prescribing.