Adaptive Biotechnologies to Spin Off MRD Business After $212M Revenue Surge
ADPT•Adaptive Biotechnologies plans to separate its MRD diagnostics business, which grew revenue from $103 million in 2023 to $212 million in 2025 and posted $15 million in adjusted EBITDA. Its Immune Medicine—featuring six million T-cell receptor–antigen pairs and data on over 10,000 patients—will pursue a separate path by year-end 2026.
1. Separation Plan Details
Adaptive announced its intention to separate the MRD diagnostics and Immune Medicine segments, evaluating strategic and structural alternatives for the latter to support growth, capital needs and value creation. The company expects to identify its preferred separation path by year-end 2026.
2. MRD Business Performance
The MRD diagnostics arm achieved revenue growth from $103 million in 2023 to $212 million in 2025 and delivered $15 million in adjusted EBITDA. ClonoSEQ now covers over 300 million lives, integrates with more than 175 EMR accounts and supports over 180 active biopharma trials.
3. Immune Medicine Platform Assets
Immune Medicine has built a discovery platform with over six million functional T-cell receptor–antigen pairs and datasets on more than 10,000 patients. Enhanced by AI-driven analytics, the platform is uncovering novel immune drivers, identifying therapeutic targets and accelerating precision medicine development.
4. Outlook and Value Creation
Adaptive will focus on expanding its MRD diagnostics leadership while seeking the optimal standalone structure for Immune Medicine to unlock shareholder value. There is no assurance of a specific transaction outcome, and further developments will be disclosed as appropriate or required.
