Goodwin Advised Freenome in Business Combination With Perceptive Capital Solutions Corp. and $310 Million Financing

The Life Sciences and SPAC teams advised Freenome in its business combination with Perceptive Capital Solutions Corp., resulting in Freenome becoming a publicly traded company on the Nasdaq Capital Market (Nasdaq: FRNM). The transaction generated approximately $310 million in gross proceeds, consisting of approximately $70 million from Perceptive Capital Solutions Corp.’s trust account and a concurrent, fully committed $240 million private investment in public equity (PIPE) led by Perceptive Advisors and RA Capital. Freenome intends to use the proceeds to advance its blood-based early cancer detection portfolio, further develop its AI-enabled multiomics platform, and expand its commercial infrastructure.

Freenome is an early cancer detection company developing blood-based screening tests to identify cancer in its earliest, most treatable stages. The company’s proprietary multiomics discovery platform analyzes circulating cell-free DNA methylation patterns at single-base resolution alongside additional biomarkers to detect multiple cancers. Freenome’s development of SimpleScreen™ CRC for colorectal cancer screening, with clinical validation through the PREEMPT CRC Study, and a pipeline of tests for lung cancer and additional indications is designed to increase cancer screening participation among millions of at-risk individuals.

The Goodwin team was led by Jocelyn Arel, Sarah Ashfaq, Justin Anslow, Katie Hand, and Kingsley Taft and included Della Fok, Yifeng Yuan, Nik Shiva, Steven Dilsizian, Lauren Kidd, and Anderson Riddick (Corporate); Steven Tjoe and Krupa Zachariah (FDA); Matthew Wetzel (Healthcare); Shane Albright and Nancy Urizar (Licensing); Justin Pierce and Gozde Guckaya (Global Trade); Dan Karelitz, Erika Pey, and Zach Keirn (Tax); Alex Denniston, Eric Graffeo, and Alex Watson (ECB), Jacquelyn Burke (Insurance); Ettore Santucci, Jim Matarese, and Mark Burnett (Opinions); William Jackson and Natasha Daughtrey (Litigation); with invaluable assistance from Claire Treesh, Van Ju, Tierney Kovacs, Leah Calitri, and Cody Foster.

For more information, please read the press release.