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Illumina (ILMN) Ties Up With Syapse to Evaluate Biomarker Testing

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Illumina, Inc. (ILMN - Free Report) recently entered into a partnership with Syapse to evaluate large panel biomarker testing patterns across the U.S. community oncology practices. The collaboration will explore the real-world uptake and actionability of comprehensive genomic profiling in patients with advanced cancer.

The recent development will fortify Illumina’s goal to strengthen its foothold in the multi-billion gene sequencing market worldwide.

Few Words on Syapse

Syapse is a company dedicated to differentiating the fear and burden of serious disease by advancing real-world care. With clinical expertise and smart technologies, the company transforms data into evidence and then into experience in collaboration with its network of partners.

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Biomarker testing is used to select the most appropriate targeted oncology therapy available on the market for a particular patient and determine a patient’s best course of action required to receive as part of a clinical trial.

It is worth mentioning that the rise in targeted therapies has provided many patients hopes of a brighter future but the ability to be tested for and receive those therapies relies upon clinical decision-making. Using the right type of biomarker test, with the right patient, at the right time can ensure that the patient is matched with the most appropriate therapy to enhance their outcomes as early as possible and can potentially eliminate the need for other diagnostic procedures that can be inconvenient, costly, and painful.

Significance of the Collaboration

The partnership between Illumina and Syapse is intended to understand biomarker testing patterns and actionability of test results to inform clinical decision-making in the community health system setting as an initial step toward facilitating enhanced clinical decision-making.

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The partnership with Illumina will enable Syapse to generate trusted insights related to biomarker testing patterns that can be utilized to advance real-world care. Further, the insights obtained from this partnership can help make that a reality by improving clinical decision-making at both the provider and health system level and eventually strengthening the delivery of precision oncology care.

Industry Prospects

Per a report by Med Gadget, the global precision oncology market is expected to be valued at $99.72 billion in 2027 from $49.98 billion in 2019, registering a CAGR of 9.9%. Advancements in the healthcare sector and increasing precision oncology applications are the factors driving the market.

Recent Developments

In December 2021, Illumina collaborated with Gretel to develop privacy-protected, synthetic genomic data that can be accessed by medical researchers anywhere. The collaboration will enable Illumina to leverage the best-quality synthetic data in the market from Gretel to remove privacy bottlenecks and accelerate the development of precision medicine.

In November 2021, Illumina formed an alliance with investment firm Sequoia Capital China to launch a genomics incubator in China. Jointly, the companies announced the selection of the first two startup companies joining the Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina. The incubator serves as a company creation engine to support life sciences startups poised to offer breakthrough applications in genomics and multiomics.

Price Performance

Shares of the company have declined 1.1% in a year against the industry's decline of 22.8%.

Zacks Rank and Key Picks

Illumina currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Few better-ranked stocks in the broader medical space include Thermo Fisher Scientific Inc. (TMO - Free Report) , Abiomed, Inc. (ABMD - Free Report) and Laboratory Corporation of America Holdings (LH - Free Report) .

Thermo Fisher surpassed earnings estimates in each of the trailing four quarters, the average surprise being 9.02%. The company currently carries a Zacks Rank of 2 (Buy).

Thermo Fisher’s long-term earnings growth rate is estimated at 14%. The company’s earnings yield of 3.7% compares favorably with the industry’s (3.6%).

Abiomed beat earnings estimates in each of the trailing four quarters, the average surprise being 5.8%. The company currently carries a Zacks Rank #2.

Abiomed’s long-term earnings growth rate is estimated at 20%. The company’s earnings yield of 1.2% compares favorably with the industry’s (3.6%).

Laboratory Corporation surpassed earnings estimates in each of the trailing four quarters, the average surprise being 25.7%. The company currently carries a Zacks Rank #2.

Laboratory Corporation’s long-term earnings growth rate is estimated at 10.6%. The company’s earnings yield of 9.4% compares favorably with the industry’s 3.4%.