Freenome
- Industry
- Biotechnology
- Founded Year
- 2014
- Headquarters
- 279 E Grand Ave, South San Francisco, California, 94080, United States
- Employee Count
- 625
Key People
- Aaron Elliott, Ph.D - Chief Executive Officer
- Linh H. Le - Chief Financial Officer
- Julie Tran - Chief People Officer
- Lance Baldo - Chief Medical Officer
- Jimmy Lin - Chief Scientific Officer
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: Freenome's leadership team comprises experienced professionals with backgrounds in medical technology and biotechnology.
The leadership's proven track record in MedTech enhances the company's credibility and operational effectiveness.
- Clinical Need
-
Aspect: Very Strong
Summary: Early cancer detection is a critical unmet need in healthcare.
Freenome's focus on early cancer detection aligns with a pressing clinical need, potentially reducing mortality rates.
- Competition
-
Aspect: Very crowded + Strategics
Summary: The market for early cancer detection is highly competitive with numerous players.
The presence of multiple competitors, including large corporations, may challenge Freenome's market penetration.
- Technical Challenge
-
Aspect: Complex
Summary: Developing accurate, non-invasive cancer detection tests involves significant technical challenges.
The integration of multiomics and machine learning requires sophisticated technology and expertise, posing development challenges.
- Patent
-
Aspect: Strong
Summary: Freenome has a robust patent portfolio protecting its technologies.
A solid patent portfolio safeguards Freenome's innovations, preventing competitors from easily replicating their technology.
- Financing
-
Aspect: Well-funded
Summary: Freenome has secured substantial funding from reputable investors.
The significant capital raised enables Freenome to invest in technology development, clinical trials, and market expansion.
- Regulatory
-
Aspect: Pivotal Trial
Summary: Freenome is conducting pivotal trials for its cancer detection tests.
Completion of pivotal trials is a key step toward obtaining regulatory approval and commercializing the tests.
Opportunity Rollup
- Odds of Success
- 3.5
- Peak Market Share
- 4.7
- Segment CAGR
- 1.9%
- Market Segment
- In Vitro Diagnostics
- Market Sub Segment
- Cancer Screening
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.70 |
| 3 | 1.64 |
| 4 | 3.29 |
| 5 | 4.70 |
Key Takeaway
Freenome's strong leadership and substantial funding position it well in the competitive early cancer detection market, though technical and regulatory challenges remain.