Freenome has received the investment from the Google’s parents company named, Alphabet. The aim of the Freenome is that to build a technology which can catch or identify early-stage cancer and also make a devoted lab for the start-up.
This is the recent investment by Alphabet which is about $65 million, in March 2017. This information is given to CNBC by a person who is familiar with the investments. And the other fact is that this investment is separate from the investment which is made by Alphabet’s venture arm, GV (formerly Google Ventures).
A Verily spokesperson said: “We are providing office space to Freenome in order to foster collaboration between the two companies.” But on the other side companies are silent on investment they didn’t comment on that.
Funding in Freenome can be a plan of Verily because it makes partnerships with life sciences companies to mutually develop enterprises or goods. Verily also built a lab for the Freenom’s clinical team. And this is the first ever lab on Verily South San Francisco locations. This information is given by the person who has the information about the investments. Verily said on the campus there are other labs also present.
A machine is using by Freenome to detect the biological signals of cancer from DNA trashes in the blood. Andreessen Horowitz with GV, Alphabet’s venture unit with collaboration with other investors made the recent funding.
The goal of the company is to make the standard of care and they wanted that for the detection of cancer the healthy people also screened on regular basis.
The CEO of the Freenome Gabriel Otte told fast company: “To put it generally, we are looking for cancers where finding something at the right time can make a difference between life and death.”
If this company and technology are successful this will be the great step towards coping up with cancer at the very early stage and also a great step towards healthier living.