Agilent Technologies and Exact Sciences Agree to Terms of Sale for Resolution Bioscience

Rhea-AI Summary

Exact Sciences acquires Resolution Bioscience to enhance cancer treatment solutions

Positive

• Exact Sciences' acquisition of Resolution Bioscience will complement their Precision Oncology portfolio, providing a more complete cancer treatment solution for patients

Negative

• None.

Resolution Bioscience’s blood-based diagnostic tests complement Exact Sciences’ Precision Oncology portfolio, providing a more complete cancer treatment solution for patients, healthcare professionals, and biopharma partners

SANTA CLARA, Calif. & MADISON, Wis.--(BUSINESS WIRE)-- Agilent Technologies, Inc. (NYSE: A) and Exact Sciences Corp. (Nasdaq: EXAS), a leading provider of cancer screening and diagnostic tests, today announced they have entered into a definitive agreement for the sale of Resolution Bioscience to Exact Sciences. Financial terms of the agreement were not disclosed and are not material to either party.

“We are pleased that Exact Sciences is acquiring Resolution Bioscience,” said Sam Raha, senior vice president, Agilent, and president, Diagnostics and Genomics Group. “Exact is a leading centralized laboratory for advanced cancer diagnostic testing with significant capabilities and resources in this area, which makes Resolution Bioscience a strategic fit for them. This agreement will enable the talented Resolution Bioscience team to continue their work advancing diagnostic solutions for their customers and patients, a very positive outcome of this transaction.”

“We are excited to work with the Resolution Bioscience team to integrate their innovative diagnostics into our Precision Oncology portfolio,” said Brian Baranick, general manager of Precision Oncology at Exact Sciences. “Resolution Bioscience’s high-quality liquid therapy selection platform perfectly complements our OncoExTra test, allowing Exact Sciences to help more cancer patients determine their best treatment options.”

Resolution Bioscience develops and commercializes next-generation sequencing-based precision oncology solutions. Agilent acquired the company in 2021.

About Exact Sciences

A leading provider of cancer screening and diagnostic tests, Exact Sciences gives patients and health care professionals the clarity needed to take life-changing action earlier. Building on the success of the Cologuard® and Oncotype® tests, Exact Sciences is investing in its pipeline to develop innovative solutions for use before, during, and after a cancer diagnosis. For more information, visit ExactSciences.com, follow Exact Sciences on Twitter @ExactSciences, or find Exact Sciences on LinkedIn and Facebook.

About Exact Sciences' Precision Oncology portfolio

Exact Sciences' Precision Oncology portfolio delivers actionable genomic insights to inform prognosis and cancer treatment after a diagnosis. In breast cancer, the Oncotype DX Breast Recurrence Score® test is the only test shown to predict the likelihood of chemotherapy benefit as well as recurrence in invasive breast cancer. The Oncotype DX Breast Recurrence Score test is recognized as a standard of care and is included in all major breast cancer treatment guidelines. The OncoExTra™ test applies comprehensive tumor profiling, utilizing whole exome and whole transcriptome sequencing, to aid in therapy selection for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer. With an extensive panel of approximately 20,000 genes, the OncoExTra test is one of the most comprehensive molecular tests available to patients today. Exact Sciences enables patients to take a more active role in their cancer care and makes it easy for providers to order tests, interpret results, and personalize medicine by applying real-world evidence and guideline recommendations. To learn more, visit precisiononcology.exactsciences.com.

About Agilent Technologies

Agilent is a global leader in analytical and clinical laboratory technologies, delivering insights and innovation that help our customers bring great science to life. Agilent’s full range of solutions includes instruments, software, services, and expertise that provide trusted answers to our customers' most challenging questions. The company generated revenue of $6.85 billion in fiscal 2022 and employs 18,000 people worldwide. For more information, visit Agilent.com, subscribe to our news alerts, and follow us on LinkedIn and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230911677427/en/

AGILENT CONTACTS

INVESTORS:

Parmeet Ahuja

+1 408-345-8948

parmeet_ahuja@agilent.com

MEDIA:

Sarah Litton

+1 669 255 7696

sarah.litton@agilent.com

EXACT SCIENCES CONTACTS

INVESTORS:

Megan Jones

+1 608 535 8815

meganjones@exactsciences.com

MEDIA:

Morry Smulevitz

+1 608 345 8010

msmulevitz@exactsciences.com 

Source: Agilent Technologies Inc.