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VC-Backed Freenome Plans Cancer Test to Rival Exact Sciences

RF Red blood cells

Source: Getty Images

Freenome Inc., a startup working on detecting cancer through blood tests, closed on $160 million in new financing and plans to put that money to work in a new study of at least 10,000 patients to detect colon cancer using a simple blood test.

The GV (formerly Google Ventures) and Andreessen Horowitz-backed company has raised $238 million to date. That should be enough to get it through the pivotal study, Gabe Otte, Freenome‘s co-founder and chief executive, said in a phone interview.