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'''Exact Sciences Corp.''' is a [[molecular diagnostics]] company with an initial focus on the early detection and prevention of [[colorectal cancer]]. Exact Sciences Corp. launched Cologuard in 2014, the first stool DNA test for [[colorectal cancer]].<ref>{{cite news|last1=Newman|first1=Judy|title=Exact Sciences' Cologuard cancer test debuts|url=https://madison.com/wsj/business/exact-sciences-cologuard-cancer-test-debuts/article_6dec0a1b-68ad-5055-b453-8464c59e7f79.html|date=31 Aug 2014|website=Madison|language=en|access-date=30 Jul 2019}}</ref> The company was founded in 1995 in [[Marlborough, Massachusetts]], but today it is headquartered in [[Madison, Wisconsin]].<ref>{{cite news |last1=McBride |first1=Ryan |title=Exact Sciences Moving to Wisconsin |url=http://www.xconomy.com/boston/2009/06/18/exact-sciences-moving-to-wisconsin/ |access-date=9 Sep 2015 |publisher=Xconomy |date=18 Jun 2009}}</ref>
'''Exact Sciences Corp.''' is a [[molecular diagnostics]] company specialising in the detection of early stage cancers. The company's initial focus was on the early detection and prevention of [[colorectal cancer]] and in 2014 it launched Cologuard the first stool DNA test for [[colorectal cancer]]. Since then Exact Sciences has grown its product portfolio to encompass other screening and precision oncological tests for other types of cancer.<ref>{{cite news|last1=Newman|first1=Judy|title=Exact Sciences' Cologuard cancer test debuts|url=https://madison.com/wsj/business/exact-sciences-cologuard-cancer-test-debuts/article_6dec0a1b-68ad-5055-b453-8464c59e7f79.html|date=31 Aug 2014|website=Madison|language=en|access-date=30 Jul 2019}}</ref>


==History==
==History==
In January 2001, the company had its initial public offering on [[NASDAQ]].<ref>{{cite web |url=https://www.nasdaq.com/markets/ipos/company/exact-sciences-corp-80522-11043|title=EXACT SCIENCES CORP (EXAS) IPO|date=31 Jan 2001|website=Nasdaq|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite web|url=https://www.crunchbase.com/ipo/exact-sciences-ipo--e2191527#section-details|title=EXAS|date=31 Jan 2001|website=Crunchbase|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news|last1=Hennessey|first1=Raymond|title=Exact Sciences IPO Gains, Breaks Price-Cutting Trend |url=https://www.wsj.com/articles/SB980965741744785503|date= 1 Feb 2001|website=WSJ|language=en|access-date=30 Jul 2019}}</ref>
Exact Sciences was founded in 1995 in [[Marlborough, Massachusetts]] by Stanley Lapidus as a company focused on the development of a non-invasive test for colorectal cancer. The company eventually went public with an initial offering on the [[NASDAQ]] in 2001. In the early years there was much speculation that the company would be acquired by a competitor or exit the market; during this time the company's share price fell to less than one dollar.<ref>{{cite web |url=https://www.nasdaq.com/markets/ipos/company/exact-sciences-corp-80522-11043|title=EXACT SCIENCES CORP (EXAS) IPO|date=31 Jan 2001|website=Nasdaq|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite web|url=https://www.crunchbase.com/ipo/exact-sciences-ipo--e2191527#section-details|title=EXAS|date=31 Jan 2001|website=Crunchbase|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news|last1=Hennessey|first1=Raymond|title=Exact Sciences IPO Gains, Breaks Price-Cutting Trend |url=https://www.wsj.com/articles/SB980965741744785503|date= 1 Feb 2001|website=WSJ|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news|last1=Timmerman|first1=Luke|title=Exact Sciences, Once Near Death, Bounces Back With Colon Cancer Test|url=https:https://xconomy.com/wisconsin/2013/12/18/exact-sciences-near-death-shakes-colon-cancer-screening/|date= 18 Dec 2013|website=Xconomy|language=en|access-date=21 Apr 2021}}</ref>


A significant turnaround in the company's fortunes began with the announcement of a mutual collaboration and licensing agreement between Exact Sciences and the [[Mayo Clinic]] in June 2009. In the same year the company appointed Kevin Conroy as CEO & president and moved its head office to [[Madison, Wisconsin]].<ref>{{cite news |url= https://www.bloomberg.com/research/stocks/people/person.asp?personId=12422782&privcapId=28311 |title= Exact Sciences Corp |publisher= Bloomberg |access-date= 20 Jun 2018}}</ref><ref>{{cite news |last1=McBride |first1=Ryan |title=Exact Sciences Moving to Wisconsin |url=http://www.xconomy.com/boston/2009/06/18/exact-sciences-moving-to-wisconsin/ |access-date=9 Sep 2015 |publisher=Xconomy |date=18 Jun 2009}}</ref><ref>{{cite news |title=EXACT Sciences Corporation Closes $8.2-Million Private Placement, Enters Into Licensing and Collaboration Agreement|date=12 Jun 2009|url=https://www.biospace.com/article/releases/exact-sciences-corporation-closes-8-2-million-private-placement-enters-into-licensing-and-collaboration-agreement-/|website=Biospace|language=en|access-date=29 Jul 2019}}</ref><ref>{{cite news |url= https://www.genomeweb.com/dxpgx/exact-sciences-licenses-mayo-clinic-ip-closes-82m-placement |title= Exact Sciences Licenses Mayo Clinic IP; Closes $8.2M Placement |publisher= GenomeWeb |date= 12 Jun 2009}}</ref>
In March 2009, Kevin Conroy joined Exact Sciences as CEO & president.<ref>{{cite news |url= https://www.bloomberg.com/research/stocks/people/person.asp?personId=12422782&privcapId=28311 |title= Exact Sciences Corp |publisher= Bloomberg |access-date= 20 Jun 2018}}</ref>


In August 2014, Exact Sciences received premarket approval from the [[Food and Drug Administration]] for the use and marketing of its flagship product, Cologuard. This breakthrough heralded the beginning of a period of rapid growth for Exact Sciences and the start of its first foray into the acquisitions market.<ref>{{cite web |url=https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfpma/pma.cfm?id=P130017|title=Premarket Approval (PMA)|date=13 Aug 2014|website=FDA|language=en|access-date=29 Jul 2019}}</ref>
In June 2009, Exact Sciences and the [[Mayo Clinic]] established a mutual collaboration and licensing agreement.<ref>{{cite news |title=EXACT Sciences Corporation Closes $8.2-Million Private Placement, Enters Into Licensing and Collaboration Agreement|date=12 Jun 2009|url=https://www.biospace.com/article/releases/exact-sciences-corporation-closes-8-2-million-private-placement-enters-into-licensing-and-collaboration-agreement-/|website=Biospace|language=en|access-date=29 Jul 2019}}</ref>
<ref>{{cite news |url= https://www.genomeweb.com/dxpgx/exact-sciences-licenses-mayo-clinic-ip-closes-82m-placement |title= Exact Sciences Licenses Mayo Clinic IP; Closes $8.2M Placement |publisher= GenomeWeb |date= 12 Jun 2009}}</ref>


In August 2017, the company made its first major acquistion when it purchased Sampleminded, a healthcare information technology company based in [[Salt Lake City, Utah]], for $3.2 million. This was followed by the January 2018 announcement that Exact Sciences had completed a $690 million [[convertible bond]] offering and the revelation that the company was to acquire Armune Bioscience, a cancer diagnostic developer based in [[Kalamazoo]] and [[Ann Arbor, Michigan]] (announced during that year's J.P Morgan Healthcare Conference). <ref>{{cite press release |url= http://xmscapital.com/xms-capital-advises-exact-sciences-on-convertible-notes-offering/ |title= XMS Capital Partners Serves as Financial Advisor to Exact Sciences on $600 Million Convertible Notes Offering |date= 24 Jan 2018}}</ref><ref>{{cite web|url=https://www.crunchbase.com/acquisition/exact-sciences-acquires-sampleminded--206dec95/|title=Sampleminded acquired by Exact Sciences|date=1 Aug 2017 |website=crunchbase|language=en|access-date=29 Jul 2019}}</ref><ref>{{Cite news|last1=Sarah|first1=Stevenson|title=Armune Bio's Cancer Detection Tech Finds New Home with Exact Sciences|url=https://xconomy.com/detroit-ann-arbor/2018/01/26/armune-bios-cancer-detection-tech-finds-new-home-with-exact-sciences/|date=26 Jan 2018|website=Xconomy|language=en|access-date=29 Jul 2019}}</ref> Third-quarter financial reports revealed the price of the Armune Bioscience acquisition to be valued at $12 million, plus $17.5 million in incentives for certain milestones. <ref>{{cite news|last1=Newman|first1=Judy|title=Exact Sciences signs deal with Epic Systems, hikes sales, widens losses|url=https://madison.com/wsj/business/exact-sciences-signs-deal-with-epic-systems-hikes-sales-widens/article_0c178063-5a0f-52e4-8642-0189fdb095d8.html/|date=3 Nov 2018 |website=Madison|language=en|access-date=29 Jul 2019}}</ref> Later, in October 2018, Exact Sciences announced its purchase of [[Biomatrica]], a developer of sample preservation technology based in [[San Diego, California]].<ref>{{cite news|last1=Buchanan|first1=Jeff|title=Exact Sciences Acquires San Diego Lab Equipment Supplier Biomatrica|url=https://xconomy.com/wisconsin/2018/10/18/exact-sciences-acquires-san-diego-lab-equipment-supplier-biomatrica/|date=18 Oct 2018|website=Xconomy|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite web|url=https://www.360dx.com/business-news/exact-sciences-acquires-sample-preservation-technology-provider-biomatrica#.XUB-GS2ZOgA|title=Exact Sciences Acquires Sample Preservation Technology Provider Biomatrica|date=18 Oct 2018|website=360dx|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news|last1=House |first1=Douglas |title=Exact Sciences acquires Biomatrica |url=https://seekingalpha.com/news/3398422-exact-sciences-acquires-biomatrica|date=18 Oct 2018|website=seekingalpha|language=en|access-date=29 Jul 2019}}</ref> Financial reports revealed the purchase price to be $20 million with an additional $20 million in incentives for certain milestones.
In August 2014, Cologuard received premarket approval from the [[Food and Drug Administration]]<ref>{{cite web |url=https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfpma/pma.cfm?id=P130017|title=Premarket Approval (PMA)|date=13 Aug 2014|website=FDA|language=en|access-date=29 Jul 2019}}</ref>


In Summer 2019 Exact Sciences opened a new 169,000 square feet lab and warehouse facility to expand its testing capacity for Cologuard and, in its largest acquisition yet, announced its intention to buy [[Genomic Health]], a genetic cancer detection company based in [[Redwood City, California]], for $2.8 billion. The reason given for this latest acquisition was to both expand Exact Sciences' product portfolio through the addition of Genomic Health's OncotypeIQ suite of precision tests, and expand into other markets outside the US on the back of Genomic Health's existing network.<ref>{{cite news |last1=Williams |first1=Nick |title=Exact Sciences opens new lab in Madison to process Cologuard test |url=https://www.bizjournals.com/milwaukee/news/2019/06/27/exact-sciences-opens-new-lab-in-madison-to-process.html |date=27 Jun 2019|website=bizjournals|language=en|access-date=29 Jul 2019}}</ref><ref>{{cite web|url=https://www.cnbc.com/2019/07/29/exact-sciences-to-buy-genomic-health-for-2point8-billion.html/|title=Exact Sciences to buy Genomic Health for $2.8 billion|date=29 Jul 2019|website=CNBC|language=en|access-date=29 Jul 2019}}</ref><ref>{{cite news |last1=Feroldi|first1=Brian|title=Why Exact Sciences Is Sinking and Genomic Health Is Rising|url=https://www.fool.com/investing/2019/07/29/why-exact-sciences-is-sinking-and-genomic-health-i.aspx|date=29 Jul 2019|website=Fool|language=en|access-date=29 Jul 2019}}</ref><ref>{{cite news |last1=Flanagan|first1=Cristin|last2=Ahmed|first2=Nabila|title=Exact Sciences to Buy Genomic Health for About $2.8 Billion|url=https://www.bloomberg.com/news/articles/2019-07-29/exact-sciences-to-buy-genomic-health-for-about-2-8-billion|date=29 Jul 2019|website=Bloomberg|language=en|access-date=29 Jul 2019}}</ref> The deal with Genomic Health led to the opening of Exact Sciences offices in the [[United Kingdom]], [[France]], [[Germany]], [[Italy]] and [[Japan]], and the foundation of Exact Sciences International, with its headquarters in [[Geneva]], [[Switzerland]].
In August 2017, Exact Sciences purchased Sampleminded, a healthcare information technology company based in [[Salt Lake City, Utah]], for $3.2 million. <ref>{{cite web|url=https://www.crunchbase.com/acquisition/exact-sciences-acquires-sampleminded--206dec95/|title=Sampleminded acquired by Exact Sciences|date=1 Aug 2017 |website=crunchbase|language=en|access-date=29 Jul 2019}}</ref>


In March 2020, Exact Sciences purchased Paradigm Diagnostics and Viomics, two companies based in [[Phoenix, Arizona]] that would expand their lab testing and research and development capabilities.<ref name="Phoenix Based Paradigm And Viomics Acquired by Exact Sciences">{{cite web |title=Phoenix Based Paradigm And Viomics Acquired by Exact Sciences |url=https://www.azbio.org/paradigm-and-viomics-acquired-by-exact-sciences |website=Arizona Bioindustry Association |publisher=Arizona Bioindustry Association |access-date=26 May 2020}}</ref> Later, in October 2020, the company again announced a round of acquisitions - this time of Thrive Earlier Detection Corp. (based in [[Cambridge, Massachusetts]]) and Base Genomics (based in [[Oxford, England]]), two companies specializing in one of Exact Sciences' pipeline areas - blood-based cancer screening.<ref name="Exact Sciences stock soars with acquisitions of 2 blood-based cancer screening firms for $2.56B">{{cite web |title=Exact Sciences stock soars with acquisitions of 2 blood-based cancer screening firms for $2.56B |url=https://madison.com/wsj/business/exact-sciences-stock-soars-with-acquisitions-of-2-blood-based-cancer-screening-firms-for-2/article_fe1b7040-08d9-5ae3-91fc-b49561f25791.html |date=20 Oct 2020|website=Wisconsin State Journal}}</ref>
In January 2018, during the J.P Morgan Healthcare Conference, Exact Sciences announced its purchase of Armune Bioscience, a cancer diagnostic developer based out of [[Kalamazoo]] and [[Ann Arbor, Michigan]].<ref>{{Cite news|last1=Sarah|first1=Stevenson|title=Armune Bio's Cancer Detection Tech Finds New Home with Exact Sciences|url=https://xconomy.com/detroit-ann-arbor/2018/01/26/armune-bios-cancer-detection-tech-finds-new-home-with-exact-sciences/|date=26 Jan 2018|website=Xconomy|language=en|access-date=29 Jul 2019}}</ref> Third-quarter financial reports revealed the price of the Armune Bioscience acquisition to be valued at $12 million, plus $17.5 million in incentives for certain milestones. <ref>{{cite news|last1=Newman|first1=Judy|title=Exact Sciences signs deal with Epic Systems, hikes sales, widens losses|url=https://madison.com/wsj/business/exact-sciences-signs-deal-with-epic-systems-hikes-sales-widens/article_0c178063-5a0f-52e4-8642-0189fdb095d8.html/|date=3 Nov 2018 |website=Madison|language=en|access-date=29 Jul 2019}}</ref>


===Acquisition history===
In January 2018, Exact Sciences completed a $690 million [[convertible bond]] offering.<ref>{{cite press release |url= http://xmscapital.com/xms-capital-advises-exact-sciences-on-convertible-notes-offering/ |title= XMS Capital Partners Serves as Financial Advisor to Exact Sciences on $600 Million Convertible Notes Offering |date= 24 Jan 2018}}</ref>
The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):


{{clade | style=font-size:90%;line-height:110% |thickness=0
In October 2018, Exact Sciences announced the acquisition of [[Biomatrica]], a developer of sample preservation technology based in [[San Diego, California]].<ref>{{cite news|last1=Buchanan|first1=Jeff|title=Exact Sciences Acquires San Diego Lab Equipment Supplier Biomatrica|url=https://xconomy.com/wisconsin/2018/10/18/exact-sciences-acquires-san-diego-lab-equipment-supplier-biomatrica/|date=18 Oct 2018|website=Xconomy|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite web|url=https://www.360dx.com/business-news/exact-sciences-acquires-sample-preservation-technology-provider-biomatrica#.XUB-GS2ZOgA|title=Exact Sciences Acquires Sample Preservation Technology Provider Biomatrica|date=18 Oct 2018|website=360dx|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news|last1=House |first1=Douglas |title=Exact Sciences acquires Biomatrica |url=https://seekingalpha.com/news/3398422-exact-sciences-acquires-biomatrica|date=18 Oct 2018|website=seekingalpha|language=en|access-date=29 Jul 2019}}</ref> Financial reports revealed the purchase price to be $20 million with an additional $20 million in incentives for certain milestones.
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|1=Exact Sciences Corp.<br/><small>(Founded 1995)</small>
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|1= Sampleminded<br/><small>(Acq 2017)</small>
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|1= Armune Bioscience<br/><small>(Acq 2018)</small>
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|1= Biomatrica<br/><small>(Acq 2018)</small>
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|1= Genomic Health<br/><small>(Acq 2019)</small>
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|1= Paradigm Diagnostics<br/><small>(Acq 2020)</small>
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|1= Viomics<br/><small>(Acq 2020)</small>
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|1= Thrive Earlier Detection Corp.<br/><small>(Acq 2020)</small>
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|2= {{clade
|1= Base Genomics<br/><small>(Acq 2020)</small>
}}
}}
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==Partnerships==
In June 2019, Exact Sciences opened a new lab and warehouse with 169,000 square feet to expand its Cologuard test. <ref>{{cite news |last1=Williams |first1=Nick |title=Exact Sciences opens new lab in Madison to process Cologuard test |url=https://www.bizjournals.com/milwaukee/news/2019/06/27/exact-sciences-opens-new-lab-in-madison-to-process.html |date=27 Jun 2019|website=bizjournals|language=en|access-date=29 Jul 2019}}</ref>
Since 2009, Exact Sciences has maintained a collaboration with [[Mayo Clinic]] for its current and future products.<ref>{{Cite web|url=https://www.prnewswire.com/news-releases/exact-sciences-advances-pipeline-capabilities-with-mayo-clinic-300853108.html|title=Exact Sciences Advances Pipeline Capabilities with Mayo Clinic|date=20 May 2019|website=prnewswire|language=en|access-date=29 Jul 2019}}</ref> In 2009, Exact Sciences also completed a licensing agreement with [[Hologic]] for its molecular detection platform. <ref>{{cite web|url=https://www.massdevice.com/exact-sciences-licenses-hologics-invader-diagnostics-line/|title=Exact Sciences licenses Hologic's Invader diagnostics line|date=23 Oct 2009|website=massdevice|language=en|access-date=29 Jul 2019}}</ref> In April 2017, Exact Sciences and MDxHealth agreed to share technology on a variety of [[epigenetics]] and [[molecular diagnostics]] applications for 5 years.<ref>{{Cite web|url=https://www.genengnews.com/news/mdxhealth-exact-agree-to-collaborate-on-epigenetics-and-mdx/|title=MDxHealth, Exact Agree to Collaborate on Epigenetics and MDx|date=17 Apr 2017|website=genengnews|language=en|access-date=29 Jul 2019}}</ref> In August 2018, Exact Sciences and [[Pfizer|Pfizer Inc.]] announced an agreement through 2021 to co-promote Cologuard.<ref>{{Cite web|url=https://xconomy.com/wisconsin/2018/08/22/exact-sciences-shares-rise-after-company-unveils-pfizer-partnership/|title=Xconomy: Exact Sciences Shares Rise After Company Unveils Pfizer Partnership|date=22 Aug 2018|website=Xconomy|language=en|access-date=21 May 2019}}</ref> In November 2018, Exact Sciences announced a partnership with [[Epic Systems]] for order entries.<ref>{{Cite news |last1=Spitzer |first1=Julie |title=Epic signs agreement with Exact Sciences: 4 things to know|url=https://www.beckershospitalreview.com/ehrs/epic-signs-agreement-with-exact-sciences-4-things-to-know.html/|date=12 Nov 2018|website=beckershospitalreview|language=en|access-date=29 Jul 2019}}</ref>


==Products==
In July 2019, in its largest acquisition yet, Exact Sciences announced its intention to buy [[Genomic Health]], a genetic cancer detection company based in [[Redwood City, California]], for $2.8 billion. <ref>{{cite web|url=https://www.cnbc.com/2019/07/29/exact-sciences-to-buy-genomic-health-for-2point8-billion.html/|title=Exact Sciences to buy Genomic Health for $2.8 billion|date=29 Jul 2019|website=CNBC|language=en|access-date=29 Jul 2019}}</ref><ref>{{cite news |last1=Feroldi|first1=Brian|title=Why Exact Sciences Is Sinking and Genomic Health Is Rising|url=https://www.fool.com/investing/2019/07/29/why-exact-sciences-is-sinking-and-genomic-health-i.aspx|date=29 Jul 2019|website=Fool|language=en|access-date=29 Jul 2019}}</ref><ref>{{cite news |last1=Flanagan|first1=Cristin|last2=Ahmed|first2=Nabila|title=Exact Sciences to Buy Genomic Health for About $2.8 Billion|url=https://www.bloomberg.com/news/articles/2019-07-29/exact-sciences-to-buy-genomic-health-for-about-2-8-billion|date=29 Jul 2019|website=Bloomberg|language=en|access-date=29 Jul 2019}}</ref>
{|class="wikitable sortable"
|-
!Product!!Cancer targeted!!Purpose!!Launch year!!Additional information
|-
|Cologuard™ ||[[Colorectal cancer|Colorectal]] || Detection of colorectal neoplasia associated DNA markers and for the presence of occult haemoglobin in human stool ||2014 ||In August 2014, the [[Food and Drug Administration|U.S. Food and Drug Administration]] (FDA) approved the company's at-home [[multitarget stool DNA screening test]] called Cologuard, for the detection of colorectal cancers and pre-cancers.<ref>{{cite news|last1=Philippidis|first1=Alex|title=FDA Approves First Noninvasive Colorectal Cancer Test|url=https://www.clinicalomics.com/topics/precision-medicine-topic/cancer/fda-approves-first-noninvasive-colorectal-cancer-test/|date=13 Aug 2014 |website=Clinicalomics|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news|title=FDA Approves First Non-invasive DNA Screening Test for Colorectal Cancer |url=https://www.esmo.org/Oncology-News/FDA-Approves-First-Non-invasive-DNA-Screening-Test-for-Colorectal-Cancer|date=13 Aug 2014|website=esmo|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news |last1=Warren|first1=Rachel|title=FDA Approves DNA Screening Test for Colorectal Cancer|url=https://www.cancernetwork.com/colorectal-cancer/fda-approves-dna-screening-test-colorectal-cancer |date=13 Aug 2014 |website=CancerNetwork |language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news|last1=Edney|first1=Anna|title=Exact Sciences Wins U.S. Approval for Colon Cancer Test|url=https://www.bloomberg.com/news/articles/2014-08-11/exact-sciences-wins-u-s-approval-for-colon-cancer-test|access-date=9 Sep 2015|agency=Bloomberg|date=12 Aug 2014}}</ref><ref>{{cite news|last1=Schattner|first1=Elaine|title=For Colon Cancer Screening, Cologuard Test Offers A Solid New Option |url=https://www.forbes.com/sites/elaineschattner/2015/03/06/for-colon-cancer-screening-exact-sciences-cologuard-offers-a-solid-new-option/|access-date=9 Sep 2015|agency=Forbes|date=6 Mar 2015}}</ref><br>This test has a [[false positive rate]] of 13%.<ref>{{cite news|last1=Fisher|first1=Deborah|title=Facts, Myths, and the Stool DNA Test|url=https://www.medpagetoday.com/gastroenterology/generalgastroenterology/47428/|date=31 Aug 2014 |website=Medpagetoday|language=en|access-date=29 Jul 2019}}</ref>
|-
|Oncotype DX® AR-V7 Nucleus Detect||[[Prostate cancer|Prostate]]||Detection of acquired resistance to AR-targeted therapy via liquid biopsy assay that analyzes circulating tumor cells in a patient's blood||2018 ||
|-
|Oncotype DX® Breast DCIS Score||[[Breast cancer|Breast]]||Genomic testing of a patient’s risk for a local recurrence of ductal carcinoma in situ or invasive carcinoma||2011 ||
|-
|Oncotype DX® Breast Recurrence Score||[[Breast cancer|Breast]]||Genome-based, comprehensive, individualized risk assessment for early-stage invasive breast cancer in adjuvant and neoadjuvant settings||2004 ||Since 2015 access to Oncotype DX Breast Recurrence Score testing has been available to all eligible [[National Health Service (England)|NHS]] patients in [[England]]<ref>{{cite news|last1=Reporter|first1=Staff|title=UK's NHS Adopts NICE Advice to Provide Oncotype DX for Intermediate Risk Breast Cancer Patients
|url=https://www.genomeweb.com/cancer/uks-nhs-adopts-nice-advice-provide-oncotype-dx-intermediate-risk-breast-cancer-patients#.YIA-mZ_iuUk|date=05 Feb 2015|website=Genome Web|language=en|access-date=21 Apr 2021}}</ref>
|-
|Oncotype DX® Colon Recurrence Score||[[Colorectal cancer|Colorectal]] ||Genome-based test to quantify the risk of recurrence of patients with anatomic stage II, MMR-P and stage III A/B colon cancers||2010 ||
|-
|Oncotype DX® Genomic Prostate Score||[[Prostate cancer|Prostate]]||Genomic assay testing for men with clinically low- or intermediate-risk cancer to help make treatment decisions at the time of diagnosis||2013 ||
|-
|Oncotype MAP™ Pan Cancer Tissue||Multiple ||Tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer||2020 ||
|-
|}


===Pipeline===
In March 2020, Exact Sciences purchased Paradigm Diagnostics and Viomics, two companies based in [[Phoenix, Arizona]] that would expand their lab testing and research and development capabilities.<ref name="Phoenix Based Paradigm And Viomics Acquired by Exact Sciences">{{cite web |title=Phoenix Based Paradigm And Viomics Acquired by Exact Sciences |url=https://www.azbio.org/paradigm-and-viomics-acquired-by-exact-sciences |website=Arizona Bioindustry Association |publisher=Arizona Bioindustry Association |access-date=26 May 2020}}</ref>
Pipeline products include esophageal, breast, lung, liver, and pancreatic cancer testing.<ref>{{cite web|url=https://www.exactsciences.com/innovative-science/the-pipeline/|title=What's in the Pipeline Right Now|website=ExactSciences|language=en|access-date=29 Jul 2019}}</ref>

In October 2020, Exact Sciences announced the acquisitions of Thrive Earlier Detection Corp. (based in [[Cambridge, Massachusetts]]) and Base Genomics (based in [[Oxford, England]]), two companies specializing in blood-based cancer screening.<ref name="Exact Sciences stock soars with acquisitions of 2 blood-based cancer screening firms for $2.56B">{{cite web |title=Exact Sciences stock soars with acquisitions of 2 blood-based cancer screening firms for $2.56B |url=https://madison.com/wsj/business/exact-sciences-stock-soars-with-acquisitions-of-2-blood-based-cancer-screening-firms-for-2/article_fe1b7040-08d9-5ae3-91fc-b49561f25791.html |date=20 Oct 2020|website=Wisconsin State Journal}}</ref>

===Products===
In August 2014, the [[Food and Drug Administration|U.S. Food and Drug Administration]] (FDA) approved the company's at-home [[multitarget stool DNA screening test]] called Cologuard, for the detection of colorectal cancers and pre-cancers.<ref>{{cite news|last1=Philippidis|first1=Alex|title=FDA Approves First Noninvasive Colorectal Cancer Test|url=https://www.clinicalomics.com/topics/precision-medicine-topic/cancer/fda-approves-first-noninvasive-colorectal-cancer-test/|date=13 Aug 2014 |website=Clinicalomics|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news|title=FDA Approves First Non-invasive DNA Screening Test for Colorectal Cancer |url=https://www.esmo.org/Oncology-News/FDA-Approves-First-Non-invasive-DNA-Screening-Test-for-Colorectal-Cancer|date=13 Aug 2014|website=esmo|language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news |last1=Warren|first1=Rachel|title=FDA Approves DNA Screening Test for Colorectal Cancer|url=https://www.cancernetwork.com/colorectal-cancer/fda-approves-dna-screening-test-colorectal-cancer |date=13 Aug 2014 |website=CancerNetwork |language=en|access-date=30 Jul 2019}}</ref><ref>{{cite news|last1=Edney|first1=Anna|title=Exact Sciences Wins U.S. Approval for Colon Cancer Test|url=https://www.bloomberg.com/news/articles/2014-08-11/exact-sciences-wins-u-s-approval-for-colon-cancer-test|access-date=9 Sep 2015|agency=Bloomberg|date=12 Aug 2014}}</ref><ref>{{cite news|last1=Schattner|first1=Elaine|title=For Colon Cancer Screening, Cologuard Test Offers A Solid New Option |url=https://www.forbes.com/sites/elaineschattner/2015/03/06/for-colon-cancer-screening-exact-sciences-cologuard-offers-a-solid-new-option/|access-date=9 Sep 2015|agency=Forbes|date=6 Mar 2015}}</ref> This test has a [[false positive rate]] of 13%.<ref>{{cite news|last1=Fisher|first1=Deborah|title=Facts, Myths, and the Stool DNA Test|url=https://www.medpagetoday.com/gastroenterology/generalgastroenterology/47428/|date=31 Aug 2014 |website=Medpagetoday|language=en|access-date=29 Jul 2019}}</ref> Pipeline products include esophageal, breast, lung, liver, and pancreatic cancer testing.<ref>{{cite web|url=https://www.exactsciences.com/innovative-science/the-pipeline/|title=What's in the Pipeline Right Now|website=ExactSciences|language=en|access-date=29 Jul 2019}}</ref>

==Partnerships==
Since 2009, Exact Sciences has maintained a collaboration with [[Mayo Clinic]] for its current and future products.<ref>{{Cite web|url=https://www.prnewswire.com/news-releases/exact-sciences-advances-pipeline-capabilities-with-mayo-clinic-300853108.html|title=Exact Sciences Advances Pipeline Capabilities with Mayo Clinic|date=20 May 2019|website=prnewswire|language=en|access-date=29 Jul 2019}}</ref> In 2009, Exact Sciences also completed a licensing agreement with [[Hologic]] for its molecular detection platform. <ref>{{cite web|url=https://www.massdevice.com/exact-sciences-licenses-hologics-invader-diagnostics-line/|title=Exact Sciences licenses Hologic's Invader diagnostics line|date=23 Oct 2009|website=massdevice|language=en|access-date=29 Jul 2019}}</ref> In April 2017, Exact Sciences and MDxHealth agreed to share technology on a variety of [[epigenetics]] and [[molecular diagnostics]] applications for 5 years.<ref>{{Cite web|url=https://www.genengnews.com/news/mdxhealth-exact-agree-to-collaborate-on-epigenetics-and-mdx/|title=MDxHealth, Exact Agree to Collaborate on Epigenetics and MDx|date=17 Apr 2017|website=genengnews|language=en|access-date=29 Jul 2019}}</ref> In August 2018, Exact Sciences and [[Pfizer|Pfizer Inc.]] announced an agreement through 2021 to co-promote Cologuard.<ref>{{Cite web|url=https://xconomy.com/wisconsin/2018/08/22/exact-sciences-shares-rise-after-company-unveils-pfizer-partnership/|title=Xconomy: Exact Sciences Shares Rise After Company Unveils Pfizer Partnership|date=22 Aug 2018|website=Xconomy|language=en|access-date=21 May 2019}}</ref> In November 2018, Exact Sciences announced a partnership with [[Epic Systems]] for order entries.<ref>{{Cite news |last1=Spitzer |first1=Julie |title=Epic signs agreement with Exact Sciences: 4 things to know|url=https://www.beckershospitalreview.com/ehrs/epic-signs-agreement-with-exact-sciences-4-things-to-know.html/|date=12 Nov 2018|website=beckershospitalreview|language=en|access-date=29 Jul 2019}}</ref>


==References==
==References==

Revision as of 15:08, 21 April 2021

Exact Sciences Corporation
Company typePublic
Nasdaq: EXAS
Russell 1000 Index component
IndustryMolecular diagnostics
Founded1995; 29 years ago (1995) in Marlborough, Massachusetts
FounderAnthony P. Shuber
HeadquartersMadison, Wisconsin, U.S.
Key people
Kevin Conroy
(Chairman, President & CEO)
Graham Lidgard
(Chief Science Officer)[1][2] [3][4][5]
ProductsCologuard, Oncotype DX, Oncotype MAP
RevenueIncrease $1.32 Billion(2019)[6]
Number of employees
4,110 [7] (2019)
Websiteexactsciences.com

Exact Sciences Corp. is a molecular diagnostics company specialising in the detection of early stage cancers. The company's initial focus was on the early detection and prevention of colorectal cancer and in 2014 it launched Cologuard the first stool DNA test for colorectal cancer. Since then Exact Sciences has grown its product portfolio to encompass other screening and precision oncological tests for other types of cancer.[8]

History

Exact Sciences was founded in 1995 in Marlborough, Massachusetts by Stanley Lapidus as a company focused on the development of a non-invasive test for colorectal cancer. The company eventually went public with an initial offering on the NASDAQ in 2001. In the early years there was much speculation that the company would be acquired by a competitor or exit the market; during this time the company's share price fell to less than one dollar.[9][10][11][12]

A significant turnaround in the company's fortunes began with the announcement of a mutual collaboration and licensing agreement between Exact Sciences and the Mayo Clinic in June 2009. In the same year the company appointed Kevin Conroy as CEO & president and moved its head office to Madison, Wisconsin.[13][14][15][16]

In August 2014, Exact Sciences received premarket approval from the Food and Drug Administration for the use and marketing of its flagship product, Cologuard. This breakthrough heralded the beginning of a period of rapid growth for Exact Sciences and the start of its first foray into the acquisitions market.[17]

In August 2017, the company made its first major acquistion when it purchased Sampleminded, a healthcare information technology company based in Salt Lake City, Utah, for $3.2 million. This was followed by the January 2018 announcement that Exact Sciences had completed a $690 million convertible bond offering and the revelation that the company was to acquire Armune Bioscience, a cancer diagnostic developer based in Kalamazoo and Ann Arbor, Michigan (announced during that year's J.P Morgan Healthcare Conference). [18][19][20] Third-quarter financial reports revealed the price of the Armune Bioscience acquisition to be valued at $12 million, plus $17.5 million in incentives for certain milestones. [21] Later, in October 2018, Exact Sciences announced its purchase of Biomatrica, a developer of sample preservation technology based in San Diego, California.[22][23][24] Financial reports revealed the purchase price to be $20 million with an additional $20 million in incentives for certain milestones.

In Summer 2019 Exact Sciences opened a new 169,000 square feet lab and warehouse facility to expand its testing capacity for Cologuard and, in its largest acquisition yet, announced its intention to buy Genomic Health, a genetic cancer detection company based in Redwood City, California, for $2.8 billion. The reason given for this latest acquisition was to both expand Exact Sciences' product portfolio through the addition of Genomic Health's OncotypeIQ suite of precision tests, and expand into other markets outside the US on the back of Genomic Health's existing network.[25][26][27][28] The deal with Genomic Health led to the opening of Exact Sciences offices in the United Kingdom, France, Germany, Italy and Japan, and the foundation of Exact Sciences International, with its headquarters in Geneva, Switzerland.

In March 2020, Exact Sciences purchased Paradigm Diagnostics and Viomics, two companies based in Phoenix, Arizona that would expand their lab testing and research and development capabilities.[29] Later, in October 2020, the company again announced a round of acquisitions - this time of Thrive Earlier Detection Corp. (based in Cambridge, Massachusetts) and Base Genomics (based in Oxford, England), two companies specializing in one of Exact Sciences' pipeline areas - blood-based cancer screening.[30]

Acquisition history

The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):

Exact Sciences

Exact Sciences Corp.
(Founded 1995)

Sampleminded
(Acq 2017)

Armune Bioscience
(Acq 2018)

Biomatrica
(Acq 2018)

Genomic Health
(Acq 2019)

Paradigm Diagnostics
(Acq 2020)

Viomics
(Acq 2020)

Thrive Earlier Detection Corp.
(Acq 2020)

Base Genomics
(Acq 2020)

Partnerships

Since 2009, Exact Sciences has maintained a collaboration with Mayo Clinic for its current and future products.[31] In 2009, Exact Sciences also completed a licensing agreement with Hologic for its molecular detection platform. [32] In April 2017, Exact Sciences and MDxHealth agreed to share technology on a variety of epigenetics and molecular diagnostics applications for 5 years.[33] In August 2018, Exact Sciences and Pfizer Inc. announced an agreement through 2021 to co-promote Cologuard.[34] In November 2018, Exact Sciences announced a partnership with Epic Systems for order entries.[35]

Products

Product Cancer targeted Purpose Launch year Additional information
Cologuard™ Colorectal Detection of colorectal neoplasia associated DNA markers and for the presence of occult haemoglobin in human stool 2014 In August 2014, the U.S. Food and Drug Administration (FDA) approved the company's at-home multitarget stool DNA screening test called Cologuard, for the detection of colorectal cancers and pre-cancers.[36][37][38][39][40]
This test has a false positive rate of 13%.[41]
Oncotype DX® AR-V7 Nucleus Detect Prostate Detection of acquired resistance to AR-targeted therapy via liquid biopsy assay that analyzes circulating tumor cells in a patient's blood 2018
Oncotype DX® Breast DCIS Score Breast Genomic testing of a patient’s risk for a local recurrence of ductal carcinoma in situ or invasive carcinoma 2011
Oncotype DX® Breast Recurrence Score Breast Genome-based, comprehensive, individualized risk assessment for early-stage invasive breast cancer in adjuvant and neoadjuvant settings 2004 Since 2015 access to Oncotype DX Breast Recurrence Score testing has been available to all eligible NHS patients in England[42]
Oncotype DX® Colon Recurrence Score Colorectal Genome-based test to quantify the risk of recurrence of patients with anatomic stage II, MMR-P and stage III A/B colon cancers 2010
Oncotype DX® Genomic Prostate Score Prostate Genomic assay testing for men with clinically low- or intermediate-risk cancer to help make treatment decisions at the time of diagnosis 2013
Oncotype MAP™ Pan Cancer Tissue Multiple Tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer 2020

Pipeline

Pipeline products include esophageal, breast, lung, liver, and pancreatic cancer testing.[43]

References

  1. ^ "EXACT Sciences Announces New Management Team". Businesswire. 18 Mar 2009. Retrieved 30 Jul 2019.
  2. ^ "EXACT Sciences Corporation Announces New Management Team". Biospace. 19 Mar 2009. Retrieved 30 July 2019.
  3. ^ "Exact Sciences Announces Appointment of Diagnostics Veteran Graham Lidgard as Chief Scientific Officer". Businesswire. 3 Aug 2009. Retrieved 30 Jul 2019.
  4. ^ "EXACT Sciences Corporation Announces Appointment of Diagnostics Veteran Graham Lidgard as Chief Scientific Officer". Biospace. 4 Aug 2009. Retrieved 30 Jul 2019.
  5. ^ "Graham Lidgard Chief Science Ofcr, Exact Sciences Corp". Bloomberg. Retrieved 20 Jun 2018.
  6. ^ https://www.macrotrends.net/stocks/charts/EXAS/exact-sciences/revenue
  7. ^ "Exact Sciences Annual Report 2019". Exact Sciences. 31 December 2019. Retrieved 23 Mar 2021.
  8. ^ Newman, Judy (31 Aug 2014). "Exact Sciences' Cologuard cancer test debuts". Madison. Retrieved 30 Jul 2019.
  9. ^ "EXACT SCIENCES CORP (EXAS) IPO". Nasdaq. 31 Jan 2001. Retrieved 30 Jul 2019.
  10. ^ "EXAS". Crunchbase. 31 Jan 2001. Retrieved 30 Jul 2019.
  11. ^ Hennessey, Raymond (1 Feb 2001). "Exact Sciences IPO Gains, Breaks Price-Cutting Trend". WSJ. Retrieved 30 Jul 2019.
  12. ^ Timmerman, Luke (18 Dec 2013). [https:https://xconomy.com/wisconsin/2013/12/18/exact-sciences-near-death-shakes-colon-cancer-screening/ "Exact Sciences, Once Near Death, Bounces Back With Colon Cancer Test"]. Xconomy. Retrieved 21 Apr 2021. {{cite news}}: Check |url= value (help)
  13. ^ "Exact Sciences Corp". Bloomberg. Retrieved 20 Jun 2018.
  14. ^ McBride, Ryan (18 Jun 2009). "Exact Sciences Moving to Wisconsin". Xconomy. Retrieved 9 Sep 2015.
  15. ^ "EXACT Sciences Corporation Closes $8.2-Million Private Placement, Enters Into Licensing and Collaboration Agreement". Biospace. 12 Jun 2009. Retrieved 29 Jul 2019.
  16. ^ "Exact Sciences Licenses Mayo Clinic IP; Closes $8.2M Placement". GenomeWeb. 12 Jun 2009.
  17. ^ "Premarket Approval (PMA)". FDA. 13 Aug 2014. Retrieved 29 Jul 2019.
  18. ^ "XMS Capital Partners Serves as Financial Advisor to Exact Sciences on $600 Million Convertible Notes Offering" (Press release). 24 Jan 2018.
  19. ^ "Sampleminded acquired by Exact Sciences". crunchbase. 1 Aug 2017. Retrieved 29 Jul 2019.
  20. ^ Sarah, Stevenson (26 Jan 2018). "Armune Bio's Cancer Detection Tech Finds New Home with Exact Sciences". Xconomy. Retrieved 29 Jul 2019.
  21. ^ Newman, Judy (3 Nov 2018). "Exact Sciences signs deal with Epic Systems, hikes sales, widens losses". Madison. Retrieved 29 Jul 2019.
  22. ^ Buchanan, Jeff (18 Oct 2018). "Exact Sciences Acquires San Diego Lab Equipment Supplier Biomatrica". Xconomy. Retrieved 30 Jul 2019.
  23. ^ "Exact Sciences Acquires Sample Preservation Technology Provider Biomatrica". 360dx. 18 Oct 2018. Retrieved 30 Jul 2019.
  24. ^ House, Douglas (18 Oct 2018). "Exact Sciences acquires Biomatrica". seekingalpha. Retrieved 29 Jul 2019.
  25. ^ Williams, Nick (27 Jun 2019). "Exact Sciences opens new lab in Madison to process Cologuard test". bizjournals. Retrieved 29 Jul 2019.
  26. ^ "Exact Sciences to buy Genomic Health for $2.8 billion". CNBC. 29 Jul 2019. Retrieved 29 Jul 2019.
  27. ^ Feroldi, Brian (29 Jul 2019). "Why Exact Sciences Is Sinking and Genomic Health Is Rising". Fool. Retrieved 29 Jul 2019.
  28. ^ Flanagan, Cristin; Ahmed, Nabila (29 Jul 2019). "Exact Sciences to Buy Genomic Health for About $2.8 Billion". Bloomberg. Retrieved 29 Jul 2019.
  29. ^ "Phoenix Based Paradigm And Viomics Acquired by Exact Sciences". Arizona Bioindustry Association. Arizona Bioindustry Association. Retrieved 26 May 2020.
  30. ^ "Exact Sciences stock soars with acquisitions of 2 blood-based cancer screening firms for $2.56B". Wisconsin State Journal. 20 Oct 2020.
  31. ^ "Exact Sciences Advances Pipeline Capabilities with Mayo Clinic". prnewswire. 20 May 2019. Retrieved 29 Jul 2019.
  32. ^ "Exact Sciences licenses Hologic's Invader diagnostics line". massdevice. 23 Oct 2009. Retrieved 29 Jul 2019.
  33. ^ "MDxHealth, Exact Agree to Collaborate on Epigenetics and MDx". genengnews. 17 Apr 2017. Retrieved 29 Jul 2019.
  34. ^ "Xconomy: Exact Sciences Shares Rise After Company Unveils Pfizer Partnership". Xconomy. 22 Aug 2018. Retrieved 21 May 2019.
  35. ^ Spitzer, Julie (12 Nov 2018). "Epic signs agreement with Exact Sciences: 4 things to know". beckershospitalreview. Retrieved 29 Jul 2019.
  36. ^ Philippidis, Alex (13 Aug 2014). "FDA Approves First Noninvasive Colorectal Cancer Test". Clinicalomics. Retrieved 30 Jul 2019.
  37. ^ "FDA Approves First Non-invasive DNA Screening Test for Colorectal Cancer". esmo. 13 Aug 2014. Retrieved 30 Jul 2019.
  38. ^ Warren, Rachel (13 Aug 2014). "FDA Approves DNA Screening Test for Colorectal Cancer". CancerNetwork. Retrieved 30 Jul 2019.
  39. ^ Edney, Anna (12 Aug 2014). "Exact Sciences Wins U.S. Approval for Colon Cancer Test". Bloomberg. Retrieved 9 Sep 2015.
  40. ^ Schattner, Elaine (6 Mar 2015). "For Colon Cancer Screening, Cologuard Test Offers A Solid New Option". Forbes. Retrieved 9 Sep 2015.
  41. ^ Fisher, Deborah (31 Aug 2014). "Facts, Myths, and the Stool DNA Test". Medpagetoday. Retrieved 29 Jul 2019.
  42. ^ Reporter, Staff (05 Feb 2015). "UK's NHS Adopts NICE Advice to Provide Oncotype DX for Intermediate Risk Breast Cancer Patients". Genome Web. Retrieved 21 Apr 2021. {{cite news}}: Check date values in: |date= (help)
  43. ^ "What's in the Pipeline Right Now". ExactSciences. Retrieved 29 Jul 2019.
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