Genetron Holdings Ltd, a leading precision oncology platform in China also known as Genetron Health, announced on Tuesday that it had signed a collaboration agreement with AstraZeneca R&D China for the joint development in China of next-generation sequencing-based tumor-informed minimal residual disease (MRD) tests for various solid tumors.

Under the agreement, the two companies will jointly invest capital, and will work together to develop and validate the personalized solid tumor MRD assays for cancer monitoring and recurrence in China.

These assays will be developed based on the genetic analysis of the primary tumor from individual patients at the beginning of treatment. A joint committee will be established to oversee the product development.

For solid tumor clinical trials in China that incorporate the use of NGS-based personalized MRD tests, AstraZeneca plans to incorporate the co-developed MRD test in China-specific studies, subject to fulfillment of individual study criteria.

Depending on further agreement, the scope of the deal may also be expanded to include in vitro diagnostic product registration and commercialization. This is an exclusive, multi-year collaboration agreement between both parties, with exclusivity contingent on certain requirements, Genetron Health said in a press release.

The Nasdaq-listed company also reported on Tuesday its unaudited preliminary financial results for the third quarter ended September 30, which showed year-over-year revenue growth of 36.2 percent.

Its laboratory developed test revenue in the third quarter hit 93 million yuan ($14.4 million), growing 30.2 percent from a year earlier. IVD revenue was 51.3 million yuan ($8.0 million) in the period, surging 70.5 percent compared to the prior year period.