Illumina, Inc.(NASDAQ:ILMN) announced a strategic collaboration, that aims to integrate Illumina’s sequencing systems for large-scale analysis of genetic variation and function and Philips’ IntelliSpace Genomics clinical informatics platform, and to coordinate marketing and sales of the resulting solutions. Philips and Illumina will also seek to engage in clinical research collaborations with health systems in the US who want to develop precision medicine programs in oncology.
Profiling tumors using genomic information is critical for complex cancer cases, and next-generation DNA sequencing – the process of rapidly profiling large sections of the genome in parallel to find mutations – is increasingly being used for this. However, challenges remain in developing ways to rapidly and accurately interpret genomic findings in the context of a patient’s condition. While cancer patients can have hundreds of gene variants in their tumors, only a small number may actually drive the individual’s specific cancer or may have actionable therapeutic implications for a particular patient. The patient’s history, related lab tests and cancer type are needed for a meaningful interpretation of the genomic data.
Philips and Illumina will collaborate to provide new solutions aimed at the acquisition, analysis, annotation and interpretation of genomics data in oncology cases. The data will be acquired by Illumina’s BaseSpace Sequence Hub connected to its instruments and will be processed through Philips’ IntelliSpace Genomics solution for oncology. This solution will combine data from multiple sources – radiology, immunohistochemistry, digital pathology, medical records and lab tests – and will deliver a consolidated dashboard view. This system will support researchers to develop insights more efficiently and will ultimately support lowering the cost of health care delivery and improved health outcomes.
“The value of genomic information for personalized care, and for the treatment of patients with cancer in particular, is tremendous,” said Jeroen Tas, CEO of Connected Care and Health Informatics at Philips. “Until now the ability to use genomic data with the aim of having a precise diagnosis of cancer and improve treatment was mostly for the domain of academic centers. Through this collaboration we will unlock the value of genomics for a much wider group of laboratories and care providers to help them advance genomics initiatives at greater speed with the aim to offer precision medicine with better outcomes for their patients.”
“We believe that this collaboration will provide an excellent path for our next-generation sequencing systems to be incorporated into health systems in the U.S. and worldwide,” said Francis deSouza, President and CEO of Illumina. “One key strategy in our commitment to improving human health is connecting genomics to the everyday business of healthcare: based on integrated patient data, embedded into clinical pathways, supported by real-world evidence and reimbursement models.”
The two companies intend to collaborate on system integration, cohort analysis and health economics applications, and future research programs. Laboratories adopting the solution will be able to integrate sequencing data with information from multiple data sources (e.g., imaging, pathology and laboratory). The Illumina-Philips solution will also give them ready access to advanced analytics, deep learning technologies and available reference literature, guidelines, and evidence in a single view.
IntelliSpace Genomics is powered by Philips HealthSuite, a secure, cloud-enabled ecosystem of systems, clinical applications and digital tools that gives access to advanced capabilities such as universal big data management, predictive analytics, artificial intelligence and Internet of Things (IoT) to support clinicians in first-time-right decision support. This enables Philips IntelliSpace Genomics to deliver real-time, actionable information to physicians and specialists for therapy planning, across locations.
BaseSpace® Sequence Hub is a cloud-based platform that seamlessly extends Illumina instruments for the acquisition and analysis of genomic data, and managing sequencing runs and Illumina sequencing platforms to optimize operations. It enables the sharing of genomic data with a broad range of value-added Illumina and ecosystem analysis applications. (Original Source)
Shares of Illumina are currently rising 0.96% to $142.85, or up $1.36 in pre-market trading Monday. ILMN has a 1-year high of $186.88 and a 1-year low of $119.37. The stock’s 50-day moving average is $130.08 and its 200-day moving average is $150.59.
On the ratings front, Illumina has been the subject of a number of recent research reports. In a report issued on January 5, Cantor Fitzgerald analyst Bryan Brokmeier reiterated a Hold rating on ILMN, with a price target of $155, which implies an upside of 10% from current levels. Separately, on January 4, Barclays’ Jack Meehan maintained a Hold rating on the stock and has a price target of $135.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Bryan Brokmeier and Jack Meehan have a yearly average loss of -2.8% and -1.9% respectively. Brokmeier has a success rate of 44% and is ranked #3796 out of 4350 analysts, while Meehan has a success rate of 54% and is ranked #3358.
Sentiment on the street is mostly neutral on ILMN stock. Out of 14 analysts who cover the stock, 7 suggest a Hold rating , 4 suggest a Buy and 3 recommend to Sell the stock. The 12-month average price target assigned to the stock is $153.75, which implies an upside of 9% from current levels.
Illumina, Inc. develops, manufactures and markets integrated systems for the analysis of genetic variation and function. The company provides sequencing and array-based solutions for genetic analysis in addition to selling products, it provide genotyping, NIPT and whole-genome sequencing services. Its customers include leading genomic research centers, academic institutions, government laboratories, hospitals, and reference laboratories as well as pharmaceutical, biotechnology, agrigenomics, commercial molecular diagnostic, and consumer genomics companies.