FREENOME HOLDINGS INC.

Company Overview

Freenome Holdings, Inc., founded in 2014, is developing and commercializing cancer screening diagnostics based on NGS and machine learning technologies. The company is a leader in the emerging field of artificial intelligence-based liquid biopsy.

Freenome’s computation system, Adaptive Genomics Engine, can be trained to analyze DNA from tumor cells, immune cells and metabolic elements. The company is focused on breast, colon, prostate, and lung cancer, and is validating its technology platform at leading hospitals and clinical institutions.

Freenome differentiates from other cell-free DNA platforms by analyzing DNA fragments that are released from tumor cells, as well as from immune cells and metabolic elements. The immunological and metabolic changes are important to detect as tumors change and evolve. Machine learning is then used to decipher and interpret the data from these DNA fragments.

In August 2019, Freenome formed a partnership with ADC Therapeutics in which ADC Therapeutics agreed to use Freenome’s platform to identify patients most likely to respond to treatment with ADCT-402 (Ioncastuximab tesirine). The compound is in a pivotal Phase II clinical trial in patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL).

In May 2020 Freenome began its prospective study of noninvasive colorectal cancer screening test. This test is a multi-omics, epigenomic test that was developed for blood-based detection of colorectal cancer and pre-cancerous lesions. The clinical trial, called Preempt CRC, consists of 14,000 asymptomatic, average-risk patients between the ages of 45 and 85 undergoing a screening colonoscopy.

The Freenome multi-omics approach involves whole-genome sequencing, bisulfite sequencing and protein quantification methods.

In August 2020, Freenome completed a $270 million Series C funding round; the proceeds will be used to accelerate its Preempt CRC clinical trial. In addition to the Preempt trial, Freenome wants to use the funds to advance a pipeline of blood biopsy tests for early detection and early intervention in other cancer types.

In June 2023, the company established a partnership with Walgreens for blood-based tests for the early detection of cancer.

Company's Business Segments

• Cancer Detection : This segment offers a screening platform to detect cancer through computational biology, machine learning, and multiple data types to tune cancer’s subtlest cues at the earliest stages of the disease.
• Clinical Research Services : The company provides a clinical research program that drives yearly cancer detection tests' development, discovery, and validation.