The company expects Medicare coverage for its test to extend to intermediate prostate cancer patients this year, and it believes new data will help drive increased adoption.
The company is developing a non-invasive test that analyzes only a small area of the genome to infer overall tumor mutational load to help guide immunotherapy use.
The money will support efforts by the company to develop liquid biopsy methods that can serve patients that its current tissue-based testing does not.
The company plans to develop a liquid biopsy assay that can identify patients most likely to benefit from treatment with checkpoint inhibitors.
The distributors will promote Trovagene's clinical test services, and will also gain access to the research-use kits the firm is co-developing with Boreal Genomics.
Illumina plans to speed up the process of making Grail an independent company and will no longer have representation on its board of directors.
The results confirmed that circulating mutations can be reliably detected and changed during treatment, and showed that they could be a valuable prognostic biomarker.
The company believes that the reduction in staff and marketing costs for its testing services will reduce its annual pre-tax expenses by about $4 million.
The company is planning to work with up to 40 sites, with an initial goal of sequencing circulating cell-free DNA from 10,000 people.
The new assays — one targeting 17 genes and one targeting 77 genes — are based on the CAPP-Seq technology developed by Stanford University