FDA approves Freenome's SimpleScreen CRC blood test; Abbott to commercialize, $100M milestone payment triggered

Perceptive Capital Solutions Corp

SimpleScreen CRC detected colorectal cancer with 81.1% sensitivity and 90.4% specificity in the PREEMPT CRC study of over 48,000 patients.
Freenome receives a $100 million milestone payment from Abbott for FDA approval; Abbott will exclusively commercialize the test in the U.S.
Test meets Medicare coverage criteria and is expected to be incorporated into American Cancer Society guidelines by name.
Up to 60 million Americans are overdue for colorectal cancer screening; blood-based test aims to increase screening rates.
Approval marks first commercial milestone for Freenome's Personalized Cancer Detection platform; company plans to expand SimpleScreen portfolio.

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