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The drugmaker will cover the cost of testing for up to 500 patients in the US with MSI-high colorectal cancer or RAI-refractory differentiated thyroid cancer.
The company said it intends to use the proceeds for general corporate purposes and to repay borrowings under its term loan facility.
NeoGenomics noted that test volumes had been disrupted by the COVID-19 pandemic, leading to reduced growth in the company.
Clinical test volume at the company is expected to grow 7 percent year over year but decreased significantly at the end of March due to the COVID-19 pandemic.
The three-year contract secures standardized pricing for HPG-affiliated facilities across the US and offers access to NeoGenomics' testing services.
The company's Q4 revenues exceeded Wall Street estimates and the clinical genetic testing and pharma services businesses outperformed expectations.
Test volumes, revenues per test and costs per test improved during the quarter, the company said.
Paired tumor/germline analysis is not routinely done in cancer care, but some labs are starting to report incidental germline findings alongside patient's tumor profiles.
The oncology division of Human Longevity performs next-generation sequencing services for pharmaceutical customers and generated $10 million in revenue in 2019.
The index's gain was well above the 13 percent increase of 2018, and almost reached the 39 percent increase it saw in 2017.
Nobel laureates and scientific societies urge NIH and the Department of Health and Human Services to revisit the recent decision to end funding for a coronavirus grant.
Bloomberg reports that BGI's SARS-CoV-2 testing sites in the Middle East have raised concerns among US officials.
A new Pew Research Center poll finds confidence in medical researchers has grown among US adults since the start of the coronavirus pandemic.
In Science this week: machine learning algorithm for faster Mendelian disorder diagnoses, gene linked to safe response to nitrogen-containing bisphosphonates, and more.