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Personalis and Tempus Enter into a Strategic Collaboration to Advance Cancer Testing
Exclusive arrangement will expand market access to Personalis’ ultra-sensitive MRD test FREMONT, Calif. & CHICAGO--(BUSINESS WIRE)-- Personalis, Inc., a
About this update from Personalis, Inc.
[{"type":"text","content":"\nExclusive arrangement will expand market access to Personalis’ ultra-sensitive MRD test\n\n\n FREMONT, Calif. & CHICAGO--(BUSINESS WIRE)--\nPersonalis, 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.\n\n\nThe 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.”\n\n\nAs a part of the deal, Tempus will:\n\n\n\nProvide up to $12 million to Personalis as certain milestones are met, to help fund clinical evidence development for NeXT Personal Dx\n\n\n\nIntegrate NeXT Personal Dx into its testing menu\n\n\n\nProvide access to oncologists through its sales and marketing efforts\n\n\n\nPersonalis will:\n\n\n\nCompensate Tempus for the fair market value of sales, marketing, order requisition and results delivery services\n\n\n\nReceive, process, and bill NeXT Personal Dx tests that are ordered, while driving reimbursement\n\n\n\nComplete clinical validation work for breast cancer and immunotherapy monitoring indications\n\n\n\nProvide warrants to Tempus to purchase up to approximately 9.2 million shares of Personalis’ common stock over the next 24 months\n\n\n\n“We believe that mon...