A strategic partnership is seemed to be resulting in a significant increase in the stock price of Personalis, Inc. (NASDAQ: PSNL). As of the last check during current session, PSNL shares were trading 11.56% higher at $2.51.
Collaboration with Myriad Genetics
A major deal was announced last week by Personalis, Inc. (NASDAQ: PSNL) and Myriad Genetics, Inc., two well-known companies in the fields of precision medicine and genetic testing. A cross-licensing agreement for patent estates pertaining to tumor-informed techniques targeted at minimum residual disease (MRD) detection is part of this partnership.
By extending patient access to the advantages of MRD testing, this strategic alignment guarantees operational independence for both businesses within the MRD market. Developments in MRD Compared to more conventional techniques like imaging, MRD tests, which are blood-based diagnostic instruments, enable physicians to keep a closer eye on the therapeutic responses to cancer therapies.
They also enable earlier detection of cancer recurrence. Although MRD testing is in its early stages, its adoption is rapidly increasing, with market projections estimating growth to $20 billion in the coming years. Personalis and Myriad Genetics are at the forefront of developing tumor-informed, genome-scale approaches for ultra-sensitive MRD tests.
These tests facilitate earlier detection of cancer recurrence and provide more precise therapy monitoring compared to other methods. Both companies recognize the value of tumor-informed approaches for cancer patients and have established robust patent portfolios in this field. They view ultra-sensitive testing as crucial to making MRD testing a standard practice.
Redefining MRD Testing Standards
Both Personalis and Myriad are committed to redefining the standards for MRD testing and enhancing market access to improve clinical decision-making in oncology treatment and monitoring. Their combined expertise and collaborative approach in leveraging intellectual property aim to drive broader adoption and reimbursement of MRD testing, significantly advancing patient care in this emerging market.
Myriad’s Precise MRD, a tumor-informed, genome-scale MRD test, is part of their expanding Precise Oncology Solutions portfolio, which includes comprehensive molecular diagnostic tools for oncology detection and treatment.
Personalis has demonstrated compelling clinical evidence through large cohorts in lung cancer, breast cancer, and immunotherapy, showcasing the capabilities of its NeXT Personal whole-genome-based MRD platform. This agreement will strengthen its collaboration with Myriad by acknowledging the significance of PSNL’s patent estates in the field.
