Illumina, Inc. (NASDAQ:ILMN) announced it has signed an agreement with Janssen Research & Development, a unit of Johnson & Johnson (NYSE:JNJ).

This collaboration will be the first relating to the development of Illumina's novel molecular residual disease (MRD) assay, a whole-genome sequencing (WGS) multi-cancer research solution that detects circulating tumor DNA (ctDNA).

MRD testing for solid tumors shows promise for improving the standard of care where current disease-monitoring tools fall short in accurately identifying patients' response to treatment, the company said in a release.

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"This collaboration reflects the value of our unique MRD technology and the promise of Illumina's whole-genome approach in oncology," said Joydeep Goswami, chief strategy and corporate development officer and chief financial officer of Illumina. 

The Illumina WGS MRD assay, which is currently in development, will detect ctDNA for MRD assessment in research settings that evaluate samples from patients previously diagnosed with cancer across multiple solid tumor indications. 

Illumina plans to develop a research solution that will provide a cost-effective, highly sensitive, and automated workflow, potentially achieving a turnaround time of five to seven days.

"Working together with pharma partners like Janssen, we aim to deliver a sensitive, accurate, and easily accessible whole-genome sequencing MRD assay to advance clinical research in oncology."

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Price Action: ILMN shares are trading higher by 0.73% to $132.38 on the last check Friday.

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