Personalis and Tempus Expand Collaboration to Biopharma

Rhea-AI Summary

Personalis (Nasdaq: PSNL) and Tempus AI (Nasdaq: TEM) have expanded their commercial relationship to benefit the biopharma industry. Originally agreed upon in November 2023, the collaboration aims to bring ultra-sensitive MRD testing to market. The partnership was launched at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, with Tempus serving as the exclusive commercial diagnostic partner for Personalis' NeXT Personal® Dx. This product is designed for broad patient adoption in breast and lung cancers and immunotherapy monitoring across all solid tumors.

Following a positive market reaction, Tempus will now offer Personalis' NeXT Personal MRD product to pharmaceutical and biotech customers. These customers can bundle MRD testing with other Tempus offerings within a given study. Chris Hall, CEO of Personalis, believes that this expansion will accelerate market penetration and capitalize on new opportunities.

Positive

• Expanded collaboration with Tempus to benefit biopharma industry.
• NeXT Personal® Dx product for broad patient adoption in breast and lung cancers.
• Exclusive commercial diagnostic partnership with Tempus.
• Potential for accelerated market penetration and new opportunities.

Negative

• None.

Insights

Medical Research Analyst

The expanded collaboration between Personalis and Tempus represents a strategic move in the MRD testing market. The NeXT Personal® Dx platform's ultra-sensitive detection capabilities for breast and lung cancers, along with immunotherapy monitoring across solid tumors, position it strongly in the growing precision oncology space. By leveraging Tempus' established biopharma relationships and integrated platform, Personalis can potentially accelerate market penetration without significant additional investment in sales infrastructure. This bundling approach with Tempus' other offerings could streamline clinical trial processes for pharmaceutical companies while providing a more comprehensive testing solution. However, the revenue impact and market share gains remain to be proven, as success will depend on biopharma adoption rates and competitive dynamics in the MRD testing landscape.

Market Research Analyst

This partnership expansion signals Personalis' strategic effort to capture a larger share of the growing MRD testing market, particularly in the lucrative biopharma segment. The collaboration leverages complementary strengths - Personalis' advanced MRD technology and Tempus' extensive biopharma network and integrated platform capabilities. For a company with a $270M market cap, this move could significantly enhance market penetration without substantial direct investment in sales and marketing infrastructure. The bundling strategy with Tempus' other offerings could make the NeXT Personal platform more attractive to pharmaceutical companies looking for comprehensive testing solutions in their clinical trials. However, investors should monitor execution metrics and market adoption rates to gauge the partnership's success.

Expanded collaboration to yield greater biopharma access to Personalis’ MRD solution

FREMONT, Calif.--(BUSINESS WIRE)-- Personalis, Inc. (Nasdaq: PSNL) and Tempus AI, Inc. (Nasdaq: TEM) announced today that the companies have expanded their commercial relationship. The companies agreed in November 2023 to collaborate and bring ultra-sensitive MRD testing to market and launched their efforts at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting. Tempus is serving as the exclusive commercial diagnostic partner for Personalis’ ultra-sensitive tumor-informed MRD product, NeXT Personal^® Dx, for broad patient adoption in breast and lung cancers, and for immunotherapy monitoring across all solid tumors.

Following a positive reaction from the diagnostic market, the companies have agreed to expand their relationship to the biopharma industry. Under this expanded relationship, Tempus will be enabled to offer Personalis’ NeXT Personal MRD product to pharmaceutical and biotech customers who wish to bundle MRD testing with other Tempus offerings in a given study.

“While we already offer NeXT Personal through our own biopharma channel, we are pleased to leverage Tempus’ integrated platform as well for these biopharma customers who desire to combine NeXT Personal with other Tempus products,” said Chris Hall, CEO of Personalis. “We believe the expansion of the relationship with Tempus will accelerate market penetration of our leading ultra-sensitive MRD platform and allow us to better capitalize on the opportunity.”

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 minimal residual disease (MRD) and recurrence at the earliest time points, enable the 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, formerly known as Twitter.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release that are not historical are “forward-looking statements” within the meaning of U.S. securities laws, including statements relating to the attributes of or opportunity for NeXT Personal or the expected benefits of the expanded relationship with Tempus. Such forward-looking statements involve known and unknown risks and uncertainties and other factors that may cause actual results to differ materially from any anticipated results or expectations expressed or implied by such statements, including the risks, uncertainties and other factors that relate to the success of Tempus’ sales and marketing efforts, including the anticipated acceleration of the market penetration of NeXT Personal. These and other potential risks and uncertainties that could cause actual results to differ materially from the results predicted in these forward-looking statements are described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Personalis’ Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (SEC) on February 28, 2024, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, filed with the SEC on May 8, 2024, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, filed with the SEC on August 7, 2024, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on November 6, 2024. All information provided in this release is as of the date of this press release, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. Personalis undertakes no duty to update this information unless required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241216417697/en/

Investors:

Caroline Corner

investors@personalis.com

415-202-5678

Media Contact:

Patrick Schmidt

pr@personalis.com

630-290-2787

Source: Personalis, Inc.

FAQ

What is the significance of the expanded collaboration between Personalis and Tempus for PSNL?

The expanded collaboration allows Tempus to offer Personalis' NeXT Personal MRD product to pharmaceutical and biotech customers, potentially accelerating market penetration and capitalizing on new opportunities.

How does the collaboration between Personalis and Tempus impact the biopharma industry?

The collaboration enables biopharma customers to bundle Personalis' NeXT Personal MRD testing with other Tempus offerings, potentially enhancing study outcomes.

What is the NeXT Personal® Dx product by Personalis?

NeXT Personal® Dx is an ultra-sensitive tumor-informed MRD product designed for broad patient adoption in breast and lung cancers and immunotherapy monitoring across all solid tumors.

What role does Tempus play in the collaboration with Personalis?

Tempus serves as the exclusive commercial diagnostic partner for Personalis' NeXT Personal® Dx, facilitating its adoption in breast and lung cancers and immunotherapy monitoring.

What was the market reaction to the initial collaboration between Personalis and Tempus?

The initial collaboration received a positive reaction from the diagnostic market, leading to the expansion of the relationship to include the biopharma industry.

When was the collaboration between Personalis and Tempus first agreed upon?

The collaboration between Personalis and Tempus was first agreed upon in November 2023.