U.S. Markets open in 8 hrs 25 mins

Personalis Receives New Order from the VA’s Million Veteran Program – Total Awarded to Date Now $145M

MENLO PARK, Calif.--(BUSINESS WIRE)--

Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for cancer, today announced a new task order under its contract with the U.S. Department of Veterans Affairs (VA) for the VA’s Million Veteran Program (VA MVP). The new task order is effective on September 28, 2019. This is the largest single task order received to date and has a value of up to approximately $38.1M, subject to the receipt of samples from the VA MVP and performance of services by Personalis. The cumulative value of task orders received to date from the VA MVP has increased to approximately $145M.

Personalis was first contracted by the VA MVP to provide DNA sequencing and data analysis services in 2012. Since then, Personalis has invested in technology and infrastructure to expand its high-volume capabilities and has developed sophisticated data systems for sample tracking, processing, and for managing large amounts of genetic data.

Personalis CEO, John West, said, “We are proud of our continuing relationship with the VA MVP, which represents the largest portion of our revenue. Given the current backlog of VA MVP samples in-house and the additional samples we may receive under this new task order, we expect that over the next several quarters our VA MVP business will account for a higher proportion of our total revenue than previously expected. Our experience delivering cutting-edge solutions for biopharma customers has allowed us to deliver a differentiated service to the VA MVP. Additionally, our VA MVP business is well aligned with our oncology business: efficient high-quality processing of tens of thousands of samples is important to both and we expect cancer sequencing to move to whole genome over time. Our work at the forefront of oncology has allowed us to develop the technologies and skillsets that help us support the VA MVP.”

About the VA Million Veteran Program

Launched in 2011, the VA MVP is a landmark research effort aimed at better understanding how genetic variations affect health. Up to a million veterans are expected to enroll in the VA study by 2021. Data and genetic samples collected through the program are stored securely and made available for studies by authorized researchers, with stringent safeguards in place to protect Veterans’ private health information. The VA MVP is now enrolling veterans at 63 VA medical centers nationwide in the study. The VA’s central biorepository is equipped with a state-of-the-art robotic system for DNA extraction and storage and is currently being expanded to support up to 4 million samples. With more than 775,000 enrollees since 2011, the VA MVP already far exceeds the enrollment numbers of any single VA study or research program in the past, and is in fact one of the largest research cohorts of its kind in the world.

The VA MVP provides researchers with a rich resource of genetic, health, lifestyle, and military-exposure data collected from questionnaires, medical records, and genetic analyses. By combining this information into a single database, the VA MVP promises to advance knowledge about the complex links between genes and health.

Veterans’ privacy and confidentiality are top priorities in the VA MVP, as in all VA research. For more information about the VA MVP, visit www.research.va.gov/MVP. This press release does not imply a Department of Veterans Affairs endorsement, and is neither paid for nor sponsored, in whole or in part, by any element of the United States government.

About Personalis, Inc.

Personalis, Inc. is a growing cancer genomics company transforming the development of next-generation therapies by providing more comprehensive molecular data about each patient’s cancer and immune response. The company’s NeXT™ Platform is designed to adapt to the complex and evolving understanding of cancer, providing its biopharmaceutical customers with information on all of the approximately 20,000 human genes, together with the immune system, from a single tissue sample. Personalis also provides genomic information to the VA Million Veterans Program as part of their goal to sequence over a million veteran genomes. The Personalis Clinical Laboratory is GxP aligned as well as CLIA’88-certified and CAP-accredited. For more information, please visit www.personalis.com and follow Personalis on Twitter (@PersonalisInc)

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, forward-looking statements include statements regarding: the timing and quantity of samples received from the VA MVP; the extent to which Personalis realizes revenue, if any, from the VA MVP contract and task orders thereunder; the enrollment of veterans in the VA MVP study, and ongoing demand of the VA MVP for Personalis’ services; and developments in whole genome cancer sequencing. These forward-looking statements are subject to risks and uncertainties, including those discussed in Personalis’ filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-Q and subsequent filings and in the documents incorporated by reference therein. Except as otherwise required by law, Personalis disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190926005829/en/