Blood-based cancer screening firm Freenome agrees to go public in $330M SPAC deal
On December 5, 2025, Freenome agreed to merge with Perceptive Capital Solutions Corp, a special purpose acquisition company (SPAC). The deal was expected to bring in about $330 million, including a $240 million private investment led by Perceptive Advisors and RA Capital. Freenome's SimpleScreen blood test for colorectal cancer was under FDA review, with a decision expected in mid-2026. Exact Sciences paid $75 million up front in August 2025 for US rights to the test, and Roche holds rights outside the US. The merger closed on July 20, 2026, with about $310 million in gross proceeds, and Freenome began trading on Nasdaq as FRNM.
Why it's notable: Blood-based colorectal cancer screening could reach patients who skip colonoscopy and stool tests. This deal funds one of the main contenders as it heads toward an FDA decision and a US launch through Exact Sciences.