Kaiser Permanente, American Cancer Society join blood test startup’s $160M funding round


https://www.beckershospitalreview.com/healthcare-information-technology/kaiser-permanente-american-cancer-society-join-blood-test-startup-s-160m-funding-round.html?oly_enc_id=2893H2397267F7G

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South San Francisco-based biotech company Freenome announced the close of a $160 million funding round, with participation from Kaiser Permanente Ventures, the American Cancer Society’s BrightEdge Ventures and Alphabet’s GV and Verily Life Sciences.

The Series B financing will be used to further develop Freenome’s blood test for early cancer detection. The startup uses an artificial intelligence-powered multiomics platform to analyze routine blood draws for often-missed biomarkers of early-stage cancer. Development of the platform has so far centered on use in detecting colorectal cancer.

Beyond further refinement of the platform, Freenome will also conduct a validation study to be submitted to the FDA and CMS for review and, eventually, expand the test to detect other forms of cancer and disease, according to CEO Gabe Otte.

 

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