Roche Invests $290 Million in Freenome's Machine Learning-Enabled Multi-Omic Blood Test for Early Colorectal Cancer Detection

Compiled by Fan Dongdong

Recently, Roche announced an investment of $290 million to support the development of Freenome's colorectal cancer detection technology. This collaboration primarily focuses on a machine learning-supported multi-omics blood test developed by Freenome, which can be used for the early detection of colorectal cancer.

Freenome’s testing technology is currently being studied in the PREEMPT CRC trial, which is expected to enroll approximately 25,000 patients. This trial is also anticipated to become the largest registration study in the U.S. for asymptomatic, average-risk adults undergoing CRC screening. Trial data from this study is expected to be released later this year.

Freenome's CRC Screening Test Technology Holds Innovative ValueFreenome’s CRC screening test technology holds certain innovative value, as the company aims to detect early-stage colorectal cancer through routine blood draws. The screening test developed by Freenome can be performed using a standard blood draw, eliminating the need for patients to conduct at-home fecal tests or undergo expensive and uncomfortable colonoscopies. This new, convenient screening method has the potential to improve the current clinical challenges faced by cancer patients, healthcare providers, and test manufacturers.

Colorectal cancer is the third most common cancer worldwide. According to data provided by Roche, there were 1.8 million diagnoses of colorectal cancer in 2018, with an estimated 880,000 deaths. However, 20% of patients already have metastatic tumors at the time of initial diagnosis. It is estimated that about 53,000 people die from colorectal cancer annually in the United States. If the screening method invested in by Roche can detect the cancer early and keep the tumor cells localized, the survival rate of patients could reach 90%. However, once the tumor cells spread, the survival rate drops sharply to around 14%.

For Roche, the substantial investment in Freenome will also enhance the company's diagnostic business capabilities. Currently, the Swiss company already holds shares or ownership in several diagnostic companies, including Foundation Medicine and Flatiron Health. Through Series D financing and Roche's investment, Freenome will also be able to expand the potential development of its multi-omics platform using biomarkers for other cancer types. This collaboration will also help Freenome develop tests for new indications.

Freenome Holdings, Inc. is expected to launch additional clinical studies for multiple cancer indications in February this year. The company stated that these studies are expected to have customized screening capabilities based on individual risk. Mike Nolan, CEO of Freenome, said in a statement that with the investment and expertise collaboration from Roche, Freenome will be able to further accelerate and enhance platform development, test more cancer screening effectiveness, and expand real-world data projects. Nolan pointed out that since the beginning, Freenome’s R&D focus has been ensuring accessible screening methods for everyone, and this cooperation with Roche provides significant support, bringing Freenome one step closer to achieving this goal.

Nolan said during the J.P. Morgan Healthcare Conference that since its establishment in 2014, Freenome has raised more than $1.1 billion in funding, of which about $350 million came from Roche. Previously, Roche also participated in Freenome’s last three rounds of venture capital financing and became a board observer of Freenome through its Roche Venture Fund.

Reference Source:

1.Roche Makes $290M Investment in Freenome’s Colorectal Cancer Screening Program

2.JPM 2022: Freenome passes $1B funding mark with $290M from Roche for cancer blood tests