Exact Sciences Corp.

Last updated
Exact Sciences Corp.
Company type Public
IndustryMolecular diagnostics
Founded1995;29 years ago (1995) in Marlborough, Massachusetts
Founders
  • Stanley Lapidus
  • Anthony P. Shuber
Headquarters Madison, Wisconsin, U.S.
Key people
ProductsCologuard, Oncotype DX, Oncotype MAP
RevenueIncrease2.svg US$2.50 billion (2023)
Increase2.svgUS$−215 million (2023)
Increase2.svgUS$−204 million (2023)
Total assets Increase2.svgUS$6.47 billion (2023)
Total equity Increase2.svgUS$3.15 billion (2023)
Number of employees
6,500 (Dec 2023)
Subsidiaries
Subsidiary List
  • Biomatrica
  • Exact Sciences Development
  • Exact Sciences Innovation
  • Exact Sciences International
  • Exact Sciences Laboratories
  • Exact Sciences Thrive
  • Genomic Health
  • Paradigm Diagnostics
  • Prevention Genetics
Website exactsciences.com
Footnotes /references
[1] [2]

Exact Sciences Corp. is an American molecular diagnostics company based in Madison, Wisconsin specializing in the detection of early stage cancers. The company's initial focus was on the early detection and prevention of colorectal cancer; 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. [3]

Contents

History

Exact Sciences was founded in 1995 in Marlborough, Massachusetts, by Stanley Lapidus and Anthony Shuber 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. [4] [5] [6]

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. [7] [8] [9] [10]

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. [11]

In August 2017, the company made its first major acquisition 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). [12] [13] 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. [14] Later, in October 2018, Exact Sciences announced its purchase of Biomatrica, a developer of sample preservation technology based in San Diego, California. [15] [16] [17]

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. [18] [19] [20] [21]

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. [22] 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. [23]

Exact Sciences responded to the 2020 COVID-19 pandemic by temporarily refocusing a portion of its diagnostic capacity to testing for the disease. The company received FDA regulatory approval to provide home testing kits in April 2020, becoming one of the first companies in the U.S. to do so. [24]

In early 2021, Exact Sciences announced its acquisition of Ashion Analytics and plans to collaborate in research with TGen, the City Of Hope's Genomics Institute. [25] [ non-primary source needed ] This news came shortly after the company's decision to purchase an exclusive-use license of TGen's proprietary liquid biopsy-based test technology, Tardis. [26] [ non-primary source needed ]

Acquisition history

Exact Sciences' Cologuard screening laboratory and warehouse in Madison, Wisconsin. Exact Sciences Lab, Madison WI.jpg
Exact Sciences' Cologuard screening laboratory and warehouse in Madison, Wisconsin.
A Cologuard test package, ready for return to the lab using the pre-paid UPS shipping label. Cologuard box.png
A Cologuard test package, ready for return to the lab using the pre-paid UPS shipping label.

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. [27] [ non-primary source needed ] In 2009, Exact Sciences also completed a licensing agreement with Hologic for its molecular detection platform. [28] In April 2017, Exact Sciences and MDxHealth agreed to share technology on a variety of epigenetics and molecular diagnostics applications for five years. [29] In August 2018, Exact Sciences and Pfizer announced an agreement through 2021 to co-promote Cologuard. [30] In November 2018, Exact Sciences announced a partnership with Epic Systems for order entries. [31]

Products

Current Products

Product typeProductCancer targetedPurposeLaunch yearAvailabilityAdditional information
Screening Cologuard™ Colorectal Detection of colorectal neoplasia associated DNA markers and for the presence of occult haemoglobin in human stool2014 US onlyIn 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. [32] [33] [34] [35] [36]
This test has a false positive rate of 13%. [37]
Screening Riskguard™MultipleDetection of genetic mutations to assess hereditary cancer risk by means of a blood and saliva sample2024 US onlyDeveloped by and offered through Exact Sciences' subsidiary PreventionGenetics.
Screening Oncoguard® Liver Liver Blood-based Screening for common liver cancer in individuals suffering from cirrhosis or hepatitis B2022 US only
Precision Oncology Oncotype DX Breast DCIS Score® Breast Genomic testing of a patient’s risk for a local recurrence of ductal carcinoma in situ or invasive carcinoma2011Over 90 countries
Precision Oncology Oncotype DX Breast Recurrence Score® Breast Genome-based, comprehensive, individualized risk assessment for early-stage invasive breast cancer in adjuvant and neoadjuvant settings2004Over 90 countriesSince 2015 access to Oncotype DX Breast Recurrence Score testing has been available to all eligible NHS patients in England [38]
Precision Oncology 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 cancers2010Over 90 countries
Precision Oncology OncoExTra®MultipleSolid tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer2020 US only

Pipeline

ProductCancer targetedPurposeLaunch yearAvailabilityAdditional information
Cancerguard™MultipleEarly detection of cancerous cells through identification of tumor DNA circulating in the blood by means of a blood drawUnder developmentUnknownInitial development by Thrive Early Detection Corp.
Oncotype DX Breast Radiation Score® Breast Genomic testing to establish the possible benefit a patient may expect from undergoing post-operative radiation therapy Under developmentUnknown
Oncodetect™MultiplePeriodic monitoring of solid tumor DNA circulating in the blood to establish any ongoing presence of cancer post-treatmentUnder developmentUnknown
Oncoliquid™MultipleBlood test to provide therapy selection guidance in cases of advanced cancerUnder developmentUnknown

Pipeline products include esophageal, breast, lung, liver, and pancreatic cancer testing. The company is also working with the Mayo Clinic to identify biomarkers associated with the 15 deadliest cancers. [39] Other initiatives focus on:[ citation needed ]

Former Products

ProductCancer targetedPurposeLaunch yearAvailabilityAdditional information
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 blood2018 US onlyDeveloped by Epic Sciences and commercialised through a partnership with Exact Sciences in the United States.
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 diagnosis2013Over 90 countries

Related Research Articles

<span class="mw-page-title-main">Colorectal cancer</span> Cancer of the colon or rectum

Colorectal cancer (CRC), also known as bowel cancer, colon cancer, or rectal cancer, is the development of cancer from the colon or rectum. Signs and symptoms may include blood in the stool, a change in bowel movements, weight loss, abdominal pain and fatigue. Most colorectal cancers are due to lifestyle factors and genetic disorders. Risk factors include diet, obesity, smoking, and lack of physical activity. Dietary factors that increase the risk include red meat, processed meat, and alcohol. Another risk factor is inflammatory bowel disease, which includes Crohn's disease and ulcerative colitis. Some of the inherited genetic disorders that can cause colorectal cancer include familial adenomatous polyposis and hereditary non-polyposis colon cancer; however, these represent less than 5% of cases. It typically starts as a benign tumor, often in the form of a polyp, which over time becomes cancerous.

<span class="mw-page-title-main">Genetic testing</span> Medical test

Genetic testing, also known as DNA testing, is used to identify changes in DNA sequence or chromosome structure. Genetic testing can also include measuring the results of genetic changes, such as RNA analysis as an output of gene expression, or through biochemical analysis to measure specific protein output. In a medical setting, genetic testing can be used to diagnose or rule out suspected genetic disorders, predict risks for specific conditions, or gain information that can be used to customize medical treatments based on an individual's genetic makeup. Genetic testing can also be used to determine biological relatives, such as a child's biological parentage through DNA paternity testing, or be used to broadly predict an individual's ancestry. Genetic testing of plants and animals can be used for similar reasons as in humans, to gain information used for selective breeding, or for efforts to boost genetic diversity in endangered populations.

<span class="mw-page-title-main">Colonoscopy</span> Examination of the bowel

Colonoscopy or coloscopy is a medical procedure involving the endoscopic examination of the large bowel (colon) and the distal portion of the small bowel. This examination is performed using either a CCD camera or a fiber optic camera, which is mounted on a flexible tube and passed through the anus.

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<span class="mw-page-title-main">Fecal occult blood</span> Blood in the feces that is not visibly apparent

Fecal occult blood (FOB) refers to blood in the feces that is not visibly apparent. A fecal occult blood test (FOBT) checks for hidden (occult) blood in the stool (feces).

<span class="mw-page-title-main">Stool test</span> Medical examination of fecal matter

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