Lund, Sweden – May 28, 2026 – Fåhraeus Startup & Growth Fund II (FSG) today announces the completion of the first exit from its second fund, as portfolio company SAGA Diagnostics has been acquired by Roche, with SAGA’s technology integrated into Foundation Medicine. Under the agreement, Roche will pay up to USD 595 million, inclusive of commercial and regulatory milestone payments.

The transaction, announced on 16 April 2026, closed on 28 May 2026, following customary regulatory approvals. FSG first invested in SAGA Diagnostics in 2023, and the completed acquisition marks the first realisation from FSG Fund II, delivering a strong return.

SAGA Diagnostics is a precision oncology company specialising in ultra-sensitive detection of circulating tumour DNA. Its Pathlight™ platform combines whole-genome sequencing with digital PCR to track the structural variants that signal molecular residual disease (MRD), helping clinicians monitor treatment response and detect cancer recurrence earlier.

“Having worked with SAGA Diagnostics in different forms since its beginnings at Lund University, through our Fåhraeus Startup & Growth investment in 2023, seeing it join Foundation Medicine is a fantastic example of the Nordic life-science ecosystem at its best — from deep science, through venture capital, to real patient benefit. This is the best possible outcome for everyone involved, and above all for the patients who will gain access to superior MRD testing for key cancers,” said Linus Wiebe, General Partner and Managing Director at FSG.

“Our mission at SAGA is to intercept cancer early, when patients are most treatable and curable. Foundation Medicine’s commercial scale and innovation accelerates our ability to bring this unique MRD platform to more patients worldwide,” said Roopom Banerjee, Executive Chairman of SAGA Diagnostics.

About SAGA Diagnostics

SAGA Diagnostics is a precision oncology company focused on ultra-sensitive detection of circulating tumour DNA and minimal residual disease. Founded in 2014 as a spin-out from Lund University, it offers molecular genetic testing of tissue and liquid biopsies, including its Pathlight™ MRD platform, to support cancer treatment decisions.

About Fåhraeus Startup & Growth (FSG)

Fåhraeus Startup & Growth FSG Fund II (FSG) is a leading Nordic venture capital fund specializing in supporting high-impact startups and growth-stage companies in technology and life sciences. FSG combines strategic investments with deep industry expertise to empower transformative innovations. FSG Fund II is supported by the European Investment Fund (EIF).