Foresight Diagnostics Reports Strong Growth and Strategic Progress in 2024; Sets Ambitious Goals for 2025
Foresight Diagnostics, a pioneering company specializing in ultra-sensitive minimal residual disease (MRD) detection technology, has announced robust business and clinical developments for the past year and outlined its strategic objectives for 2025.
Outstanding Growth and Milestones Achieved in 2024
Since its inception, Foresight has consistently doubled its revenue annually, and 2024 marked another year of exceptional performance with over 100% compound annual growth rate (CAGR) since 2021. The company expanded its network, establishing more than 60 contracts with upwards of 20 pharmaceutical and over 10 academic partners.
One of the key accomplishments in 2024 was securing Investigational Device Exemption (IDE) approval from the U.S. Food and Drug Administration (FDA) for Foresight CLARITY™, their flagship liquid biopsy platform. This paved the way for patient enrollment in the ALPHA3 clinical trial, an important study evaluating first-line consolidation treatment for large B-cell lymphoma (LBCL) based on MRD status. This was made possible through a strategic collaboration with Allogene Therapeutics, whereby Foresight CLARITY™ is employed as an investigational-use only in-vitro diagnostic to determine patient eligibility.
The company also expanded its operational capacity by moving to a new corporate headquarters and a CLIA-certified laboratory in Boulder, Colorado. This upgrade enables automated testing with an average turnaround time of seven days and scalability to process thousands of samples weekly.
Capital growth also accelerated with a successful Series B funding round, raising $33 million from existing investors including Foresite Capital, Civilization Ventures, and Stanford University, bringing total venture funding to $86 million. These funds are fueling the development of Foresight CLARITY™ applications in solid tumors.
Clinical research continued to advance prominently, demonstrating the industry-leading analytical sensitivity of Foresight CLARITY™ in solid tumors. Notably, the platform achieved a limit of detection (LOD95) of 3 parts per ten million, positioning it among the most sensitive assays available. In partnership with Memorial Sloan Kettering Cancer Center, clinical data was presented at major conferences:
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At the American Society of Clinical Oncology (ASCO) 2024, results highlighted the platform’s ability to detect MRD in early-stage non-small cell lung cancer (NSCLC) patients in the postoperative adjuvant therapy setting.
- Findings from breast cancer studies presented at the European Society for Medical Oncology (ESMO) Congress and expanded at the San Antonio Breast Cancer Symposium (SABCS) showed that MRD clearance after perioperative treatments correlates strongly with improved survival outcomes.
In addition, Foresight launched the SHORTEN-ctDNA clinical trial in collaboration with Columbia University, aiming to assess real-time treatment optimization for diffuse large B-cell lymphoma (DLBCL) patients based on mid-therapy circulating tumor DNA (ctDNA) status.
Strategic Objectives for 2025
Looking ahead, Foresight Diagnostics has set several ambitious goals for the coming year focused on expanding commercial and clinical impact:
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Revenue Growth & Partnership Expansion: The company plans to accelerate revenue growth by cultivating new and broader partnerships with biopharma companies and academic institutions. A particular focus will be on promoting the regulated use of Foresight CLARITY™, including developing companion diagnostics and incorporating MRD-based endpoints in global clinical trials.
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Preparation for Commercial Launch: Foresight intends to finalize reimbursement pathways and formulate a robust launch strategy specifically targeting lymphoma indications to prepare for the commercial rollout of Foresight CLARITY™.
- Advancement in Solid Tumor Testing: To strengthen its foothold in the solid tumor MRD market, Foresight aims to establish new strategic collaborations and offer real-time MRD testing as a laboratory-developed test (LDT), enhancing accessibility and clinical utility.
About Foresight Diagnostics
Foresight Diagnostics operates as a privately held company and CLIA-certified laboratory focused on cancer diagnostics. Its core technology, the Foresight CLARITY™ liquid biopsy platform, provides high-sensitivity detection of minimal residual disease in both solid tumor and hematologic cancers. This sensitivity enables physicians and pharmaceutical companies to make better-informed, personalized treatment decisions based on precise MRD monitoring.
Upcoming Engagements
Foresight Diagnostics is scheduled to present at the 43rd Annual J.P. Morgan Healthcare Conference on January 15, 2025. The company will also participate in the LifeSci Corporate Access Event from January 13-15, with availability for additional meetings on January 16.
With a proven track record of rapid growth, impactful collaborations, and groundbreaking clinical progress, Foresight Diagnostics is well-positioned to revolutionize cancer diagnostics and treatment personalization in the years ahead.