Rhythm Biosciences' Strategic Partnership with Memorial Sloan Kettering: A Catalyst for Precision Oncology Innovation

The intersection of precision medicine and immuno-oncology is rapidly reshaping cancer care, and Rhythm Biosciences' recent collaboration with Memorial Sloan Kettering Cancer Center (MSK) positions the company at the forefront of this transformation. By leveraging polygenic risk scores (PRS) for breast and prostate cancer risk assessment, Rhythm is not only advancing early detection but also laying the groundwork for more effective immuno-oncology (IO) therapies. This partnership, while not explicitly tied to IO drug development, aligns with broader trends in biomarker-driven clinical trials and patient stratification—key enablers of the next phase in IO innovation.

Accelerating Drug Development Through Genomic Insights

Rhythm's collaboration with MSK involves processing 300 participants to refine its genomic risk prediction models. These models, which analyze multiple genetic variants to assess cancer susceptibility, are critical for identifying high-risk populations early. While IO therapies like immune checkpoint inhibitors (ICIs) and CAR-T cell therapies dominate the market, their efficacy often hinges on patient selection. For instance, ICIs work best in tumors with high mutational burdens, a trait more common in certain hereditary cancer syndromes. By integrating PRS into risk assessment, Rhythm could help clinicians prioritize patients for IO therapies, thereby improving trial outcomes and reducing costs.

The immuno-oncology drugs market, valued at $94 billion in 2024 and projected to grow at a 16.34% CAGR through 2034, is increasingly reliant on biomarkers to stratify patients. Rhythm's focus on affordable, accessible blood-based tests aligns with this demand. For example, liquid biopsy technologies—already used in IO to monitor tumor DNA and predict treatment resistance—could benefit from Rhythm's PRS-driven insights. By identifying patients at the earliest stages of disease, Rhythm's tools may complement IO therapies, which are most effective when administered before advanced tumor progression.

Expanding Clinical Trial Access in Community Settings

Clinical trial access remains a bottleneck in IO development, particularly in community-based practices where 80% of cancer patients receive care but only 20% participate in early-phase trials. Rhythm's partnership with MSK, combined with broader industry efforts like the START-OneOncology collaboration, addresses this gap. By embedding genomic risk assessments into routine care, Rhythm can flag high-risk patients for enrollment in IO trials, ensuring diverse and representative cohorts.

The START-OneOncology partnership, which plans to launch three new clinical trial sites in 2025, exemplifies this model. These sites integrate early-phase IO trials into community practices, reducing barriers like travel and trial complexity. Rhythm's blood tests could further streamline this process by pre-screening patients for genetic risk factors, enabling faster enrollment and more targeted trial designs. This synergy between genomic diagnostics and trial infrastructure is critical for the Society for Immunotherapy of Cancer's (SITC) goal of approving 100 new IO therapies by 2035.

Positioning Rhythm as an IO Ecosystem Enabler

While Rhythm does not develop IO therapies directly, its role as a diagnostics enabler is pivotal. IO drug development increasingly depends on adaptive trial designs and novel endpoints such as pathologic complete response (pCR) and circulating tumor DNA (ctDNA) monitoring. Rhythm's PRS tools could enhance these frameworks by identifying patients with genetic profiles likely to respond to specific IO agents. For example, tumors with BRCA mutations may respond better to PARP inhibitors, while those with high microsatellite instability (MSI) may benefit from PD-1 inhibitors.

Moreover, Rhythm's emphasis on affordability and simplicity aligns with the growing demand for decentralized trials. By offering accessible blood tests, the company supports remote patient monitoring and real-world data collection, both of which are gaining traction in IO research. This positions Rhythm not just as a diagnostics provider but as a strategic partner for pharma companies seeking to accelerate IO development.

Investment Implications

Rhythm Biosciences' collaboration with MSK is a calculated move into the precision oncology space, where the intersection of genomics and IO is expected to drive growth. With the global immuno-oncology market projected to reach $421 billion by 2034, Rhythm's role in enabling early detection and trial access could become increasingly valuable.

Investors should monitor two key metrics:
1. Clinical Trial Adoption: Track how many of Rhythm's PRS tests are integrated into IO trials, particularly those led by big pharma.
2. Regulatory Milestones: Watch for partnerships with IO-focused biotechs or regulatory approvals for Rhythm's tests as companion diagnostics.

Given the sector's growth trajectory and Rhythm's strategic positioning, the company represents a compelling long-term bet for investors seeking exposure to the precision oncology-IO convergence. However, short-term volatility is likely as the market evaluates the scalability of PRS in clinical practice.

In conclusion, Rhythm Biosciences' partnership with Memorial Sloan Kettering is more than a step into genomics—it's a bridge to the future of immuno-oncology. By democratizing access to precision diagnostics and streamlining trial infrastructure, Rhythm is poised to become an indispensable player in the next wave of cancer innovation.