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Researchers concluded that there has been significant expansion of coverage for ctDNA assays over the past four years, but policies remain very heterogeneous and often limited.
The companies will work together to bring Guardant360 through regulatory approval and commercialize it as a CDx for Janssen's amivantamab.
ArcherDX said the firms aim to apply minimal residual disease monitoring in clinical-trial protocols and for future therapy optimization.
The company is commercializing a genome-wide sequencing method called MRDetect, developed by researchers at the New York Genome Center and Weill Cornell Medicine.
The New York-based firm will use the funding to develop and clinically validate its personalized, real-time tool for monitoring recurrence and treatment response for various sold cancer types.
ArcherDx will develop sequencing-based circulating tumor DNA assays for use in AstraZeneca's recently launched Phase III MERMAID-1 trial of durvalumab (Imfinzi).
The company was able to increase its total revenue and test revenues despite accessioning fewer samples and fewer billable samples during the quarter.
The firm's precision oncology testing revenue more than doubled to $60.2 million, while its development services revenues contracted 7 percent.
Investigators reported on detection rates for cancers and precancers in a group of 350 individuals presenting for standard of care colonoscopy.
The company said the funds will support the continued development and commercialization of its genome-wide methylation assay for multi-cancer early detection.