Personalis, Inc. and Tempus Labs, Inc. 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. 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.