Biotechnology company Freenome has secured a $300m in series D financing round to advance its multiomics platform for early cancer detection.

With the latest funding, the company’s total financing reached more than $800m since its establishment in 2014.

Led by Perceptive Advisors and RA Capital Management, the financing round saw participation from existing investors a16z Life Sciences Growth Fund, the American Cancer Society’s BrightEdge VenturesArtis Ventures, and Bain Capital Life Sciences, among others.

Freenome CEO Mike Nolan said: “We appreciate the shared belief our investors have in what is possible when it comes to fighting cancer.

“This funding gets us closer to bringing our early cancer detection tests to everyone, ultimately saving lives.”

The company will use the funding to accelerate the commercialisation of its blood test for colorectal cancer (CRC) screening, in addition to expanding its multiomics platform to other cancers.

For the detection of cancer in its earliest stages, the company’s platform uses a routine blood test.

By offering a convenient and patient-friendly option, Freenome’s multiomics blood test will help address adherence challenges with existing approaches.

The PREEMPT CRC prospective registrational study, which is currently in the final stage of recruitment, is validating the multiomics blood test.

Freenome is also focusing on expanding its platform for the development of tests for other cancers. Recently, the company has unveiled significant data in the detection of pancreatic cancer.

The financing round is also supported by Fidelity Management and Research, Janus Henderson Investors, Kaiser Permanente, Novartis, Polaris Partners, Ridgeback Capital Management, Roche Venture Fund, Rock Springs Capital, Sands Capital, Section 32 and Soleus Capital Management.

The round has also included new biotech institutional investors such as ArrowMark Partners, Byers Capital, Eventide Asset Management, HBM Healthcare Investments, Intermountain Ventures, and other undisclosed funds.