Freenome Holdings, Inc., a leading early cancer detection company establishing blood-related screening tests and Perceptive Capital Solutions Corp, a known special purpose acquisition company (SPAC), presented by a subsidiary of Perceptive Advisors, have signed a definitive business merger agreement. On closing of the said transaction deal, PCSC will reincorporate as a Delaware corporation, be renamed Freenome, Inc., and its common stock is expected to come under the listing on the Nasdaq with the ticker symbol “FRNM”.
Around the estimated worth of $90 million deposited in PCSC’s trust account, with no such confirmed redemptions by PCSC’s public shareholders, the transaction involves promises for a common equity PIPE at a worth $10.00 per share of around $240 million from a community of premier healthcare investors. The PIPE is handled by RA Capital and Perceptive with involvement from Bain Capital Life Sciences, ADAR1 Capital, new and existing known healthcare investors, and Farallon Capital Management.
The net proceeds, according to the agreement and fixed from the transaction, are expected to deliver the capital required for this Combined Company. This partnership will leverage the development of Freenome’s AI/ML-determined multiomics platform that searches for the best to address the early biological symptoms of disease. It will also extend the company’s data and marketing infrastructure and further modernise the company’s personalised, robust multi-cancer detection pipeline with the empowering goal.
The PhD, CEO of Freenome, Aaron Elliott, said, “Freenome is stepping into the public markets at a modulation point for blood-related cancer screening and our company. Our robust technology has been clinically confirmed via our latest JAMA manuscript and pivotal PREEMPT CRC study. We have locked the marketing collaborations required to uplift the near-term launch of various tests in 2026.”
“Our different PIPE investors and Perceptive Advisors introduce intense healthcare conviction and expertise in our idea to make the valuable multi-cancer detection personalised and reachable a part of the routine care.”
Chief Investment Officer of Perceptive Advisors and CEO of PCSC, Adam Stone, said, “We discovered PCSC to collaborate with the inspiring transitional life sciences companies, alongside Freenome, reflects the same kind of business we set out to support. Freenome has established a popular platform, well-structured top-tier strategic partners and illustrated a clear and safe path in making blood-related cancer screening widely accessible. We are excited to collaborate with the Freenome team and to contribute to the company via its next level of growth.”
Mansi Kadam is a market research writer with over 3 years of experience analyzing trends in the healthcare industry. At Towards Healthcare, she covers innovations in medical sector, sustainability initiatives, and the evolving regulatory landscape.
