November 28, 2023 04:15 PM Eastern Standard Time
FREMONT, Calif. & CHICAGO–(BUSINESS WIRE)–Personalis, Inc., a leader in advanced genomics for precision oncology (Nasdaq: PSNL), and Tempus Labs, Inc., a leader in artificial intelligence and precision medicine, today announced a strategic collaboration to co-commercialize NeXT Personal® Dx, Personalis’ whole genome-based liquid biopsy laboratory developed test (LDT) for detection of molecular residual disease (MRD) and recurrence in cancer. NeXT Personal Dx is a leap forward in tumor-informed approaches, setting the new standard in performance of MRD tests with unprecedented sensitivity and high specificity. The test was launched by Personalis in October of this year.
The two companies will work together exclusively in tumor-informed MRD testing for lung cancer, as well as breast cancer and immunotherapy monitoring after clinical validation of NeXT Personal Dx in those indications. The agreement contemplates testing up to tens of thousands of new patients over the next three years. “A core part of our ‘Win in MRD’ strategy has been to partner with a top oncology testing company with a leading sales channel to co-commercialize NeXT Personal Dx,” said Chris Hall, President and CEO of Personalis. “With today’s announcement, we have fulfilled that part of our strategy and we are excited about starting the journey together with Tempus to bring our NeXT Personal Dx test to the country’s oncologists and their patients.”
As a part of the deal, Tempus will:
- Provide up to $12 million to Personalis as certain milestones are met, to help fund clinical evidence development for NeXT Personal Dx
- Integrate NeXT Personal Dx into its testing menu
- Provide access to oncologists through its sales and marketing efforts
Personalis will:
- Compensate Tempus for the fair market value of sales, marketing, order requisition and results delivery services
- Receive, process, and bill NeXT Personal Dx tests that are ordered, while driving reimbursement
- Complete clinical validation work for breast cancer and immunotherapy monitoring indications
- Provide warrants to Tempus to purchase up to approximately 9.2 million shares of Personalis’ common stock over the next 24 months
“We believe that monitoring cancer recurrence is an important emerging development that has the potential to transform the way cancer is managed and Tempus is excited to bring this best-in-class tumor-informed test to oncologists to complement our existing tumor naïve MRD strategy,” said Eric Lefkofsky, Founder and CEO of Tempus.
About Personalis, Inc.
At Personalis, we are transforming the active management of cancer through breakthrough personalized testing. We aim to drive a new paradigm for cancer management, guiding care from biopsy through the life of the patient. Our highly sensitive assays combine tumor-and-normal profiling with proprietary algorithms to deliver advanced insights even as cancer evolves over time. Our products are designed to detect MRD and recurrence at the earliest timepoints, enable selection of targeted therapies based on ultra-comprehensive genomic profiling, and enhance biomarker strategy for drug development. Personalis is based in Fremont, California. To learn more, visit www.personalis.com and connect with us on LinkedIn and X (Twitter).
About Tempus
Tempus is a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare. With one of the world’s largest libraries of multimodal data, and an operating system to make that data accessible and useful, Tempus provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics. The goal is for each patient to benefit from the treatment of others who came before by providing physicians with tools that learn as the company gathers more data. For more information, visit tempus.com.
Source: https://www.businesswire.com/news/home/20231128772867/en/