Tempus to Acquire Personalis in $1.5 Billion Precision Oncology Deal

(Chicago, IL, USA) has entered into a definitive agreement to acquire Personalis, Inc. (Fremont, CA, USA), expanding its capabilities in molecular residual disease (MRD) testing and cancer monitoring. Under the agreement, Personalis shareholders will receive USD 16.25 per share, representing a total enterprise value of USD 1.5 billion, net of Tempus’ existing ownership interest.

The transaction builds on a partnership established between the companies in November 2023, when Tempus invested in Personalis and began commercializing its NeXT Personal MRD test. The combination will integrate Personalis’ tumor-informed MRD technology with Tempus’ multimodal data, artificial intelligence capabilities, commercial infrastructure, and precision oncology portfolio. The companies expect the integration to strengthen patient support across the cancer care continuum, from diagnosis and treatment selection to recurrence detection and long-term monitoring.

NeXT Personal is an ultrasensitive, personalized blood test designed to identify small traces of circulating tumor DNA. The test can be used to assess treatment response, detect residual cancer after therapy, and identify recurrence at an earlier stage. According to the companies, the assay currently has Medicare coverage across three indications, with further reimbursement decisions anticipated.

Tempus provides AI-enabled precision medicine solutions supported by a large library of multimodal clinical and molecular data. Personalis develops genomic tests for cancer monitoring, treatment selection, and biopharmaceutical research. Integrating Personalis’ longitudinal molecular data into the Tempus platform is also expected to support biomarker discovery and more closely coordinated drug-development partnerships.

The transaction will primarily involve Tempus stock, although Tempus may elect to pay up to 50% of the consideration in cash. The acquisition has been approved by the boards of both companies and is expected to close in late 2026 or early 2027, subject to Personalis shareholder approval, regulatory clearance, and other customary closing conditions.

“MRD is a large and rapidly growing market with the potential to truly transform how cancer patients are monitored, helping clinicians make faster and more informed decisions when cancer recurs. Through our existing collaboration with Personalis, we have already demonstrated the strength of combining highly sensitive MRD technology with our commercial infrastructure. With clinical adoption and reimbursement momentum building, we are collectively well positioned to capture this opportunity, which makes this acquisition particularly exciting,” said Eric Lefkofsky, CEO of Tempus.

“We believe this transaction represents an exciting next chapter for Personalis. Combining with Tempus gives us the scale, complementary capabilities and resources to accelerate innovation and deliver even greater value to patients, clinicians and biopharma partners. After conducting an exhaustive process, we are confident Tempus’ offer provides the most value to our shareholders and the fastest path to bringing Personalis’ industry‑leading tests to patients suffering from cancer,” said Chris Hall, CEO of Personalis.

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