Freenome Stock

To advance early cancer detection technology, Freenome received a fresh $254 million investment.

In a funding led by a16z Life Sciences Growth Fund, Freenome raised $254 million for its cancer detection platform.

In early 2022, Freenome surpassed $1 billion in lifetime financing after raking in two nine-figure funding rounds barely a month apart, with plans to use the money to launch new studies of its cancer blood tests. Two years later, the company is adding to its coffers once again, with an eye toward both keeping those studies afloat and continuing to develop additional disease-detecting liquid biopsy tests. The latest funding round weighed in at $254 million, Freenome announced Thursday. It was led by Roche, which has participated in all of Freenome’s previous fundraising sessions and was also responsible for the $290 million contribution at the start of 2022 that brought Freenome’s total past the $1 billion mark.

Walgreens and biotech firm Freenome have announced a multi-year partnership to advance clinical studies of Freenome's blood-based tests for early cancer detection. Walgreens will use its national footprint and patient insights to engage diverse patient populations in Freenome's multi-cancer research program. The partnership will also work on building risk-prediction models and population health software to help identify people eligible for standard-of-care cancer detection testing.