Fenwick & West represented Freenome Inc., a biotechnology company that has pioneered the most comprehensive multiomics platform for early cancer detection through a routine blood draw, in its in its $160 million Series B financing, bringing its total financing to $238 million to date. The financing was led by RA Capital Management and Polaris Partners.
Freenome will use the proceeds to further the development of its early cancer detection blood test powered by its platform. The company also plans to conduct a pivotal validation study and submit to the U.S. Food and Drug Administration (FDA) and Centers for Medicare & Medicaid Services (CMS) under the Parallel Review Program the first application of its platform in colorectal cancer screening and expand its laboratory infrastructure and software to support its continued growth. More information about Freenome’s $160 million Series B financing can be obtained from the company press release.
The Fenwick transaction team was led by corporate lawyers Michael Esquivel, Patrick Grilli, Caroline Wells, Ari Haber and Jenna Hsieh; technology transactions lawyer Stefano Quintini; and executive compensation and employee benefits lawyer Shawn Lampron.