Freenome: SimpleScreen CRC Unlocks A 50M Patient TAM, Bypassing Competition
Freenome's FDA-approved SimpleScreen CRC blood-based colorectal screening test has been out-licensed to Abbott, targeting a roughly 50 million patient total addressable market in the unscreened colorectal space. The deal includes up to $700M in milestone payments and 10% royalties, backed by a $410M cash reserve, with the upcoming PROACT LUNG study cited as a potential catalyst for its multiomics platform.
Why it matters — FRNM watchers would care because the Abbott licensing deal and cash position position Freenome to access the large unscreened colorectal cancer market, while the PROACT LUNG study could validate its platform across additional indications.