Exact Sciences Completes Acquisition of Ashion Analytics, LLC, from The Translational Genomics Research Institute, an affiliate of City of Hope

Rhea-AI Summary

Exact Sciences Corp. (NASDAQ: EXAS) announced the successful acquisition of Ashion Analytics, enhancing its capabilities in precision oncology. This acquisition includes a CLIA-certified lab and advanced genomic testing options, specifically the GEM ExTra® test. The collaboration with The Translational Genomics Research Institute (TGen) aims to improve advanced cancer diagnostics. This strategic move is projected to bolster patient care and extend Exact Sciences' market leadership in cancer treatment.

Positive

• Acquisition of Ashion Analytics adds advanced genomic testing capabilities.
• Collaboration with TGen enhances development of advanced cancer diagnostics.
• GEM ExTra® test broadens the oncology testing portfolio.

Negative

• No guarantees that the anticipated benefits of the acquisition will be realized.
• Risks associated with the successful commercialization of GEM ExTra.

MADISON, Wis., April 14, 2021 /PRNewswire/ -- Exact Sciences Corp. (NASDAQ: EXAS) today announced that it has completed its previously announced acquisition of Ashion Analytics, LLC.

"As a leader in cancer testing, we're committed to providing earlier answers and life-changing treatment guidance to support patients along every step of their cancer journey," said Kevin Conroy, chairman and CEO of Exact Sciences. "With Ashion, we've added a talented team, a CLIA-certified and CAP-accredited lab, deep sequencing capabilities, and one of the most comprehensive genomic cancer tests available on the market today with GEM ExTra®. This expertise will be integral in helping us extend our leadership in precision oncology and in serving more patients across the cancer continuum, including therapy selection and minimal residual disease testing." 

Exact Sciences and The Translational Genomics Research Institute (TGen) are expanding their multi-year collaboration to further benefit from TGen and City of Hope's expertise in developing better advanced cancer diagnostics and establishing the clinical evidence necessary to support their adoption.

About Exact Sciences Corp.
A leading provider of cancer screening and diagnostic tests, Exact Sciences relentlessly pursues smarter solutions providing the clarity to take life-changing action, earlier. Fueled by the success of Cologuard and Oncotype DX, Exact Sciences is investing in its product pipeline to take on some of the deadliest cancers and improve patient care. Alongside its visionary collaborators and in partnership with communities, Exact Sciences unites the best resources to help advance the fight against cancer. For more information, please visit the company's website at www.exactsciences.com, or follow Exact Sciences on Twitter, Facebook, or LinkedIn.

About TGen, an affiliate of City of Hope
Translational Genomics Research Institute (TGen) is a Phoenix, Arizona-based nonprofit organization dedicated to conducting groundbreaking research with life-changing results. TGen is affiliated with City of Hope, a world-renowned independent research and treatment center for cancer, diabetes and other life-threatening diseases. This precision medicine affiliation between City of Hope and TGen enables both institutions to complement each other in research and patient care, with City of Hope providing a significant clinical setting to advance scientific discoveries made by TGen. TGen is focused on helping patients with neurological disorders, cancer, diabetes and infectious diseases through cutting-edge translational research (the process of rapidly moving research toward patient benefit). TGen physicians and scientists work to unravel the genetic components of both common and complex rare diseases in adults and children. Working with collaborators in the scientific and medical communities worldwide, TGen makes a substantial contribution to help City of Hope's patients through efficiency and effectiveness of the translational process. For more information, please visit TGen's website at www.tgen.org, or follow TGen on Facebook, LinkedIn or Twitter @TGen.

About City of Hope
City of Hope is an independent biomedical research and treatment center for cancer, diabetes and other life-threatening diseases. Founded in 1913, City of Hope is a leader in bone marrow transplantation and immunotherapy such as CAR T cell therapy. City of Hope's translational research and personalized treatment protocols advance care throughout the world. Human synthetic insulin, monoclonal antibodies, and numerous breakthrough cancer drugs are based on technology developed at the institution.  Translational Genomics Research Institute (TGen) became a part of City of Hope in 2016. AccessHope^TM, a wholly owned subsidiary, was launched in 2019, dedicated to serving employers and their health care partners by providing access to City of Hope's exceptional cancer expertise. A National Cancer Institute-designated comprehensive cancer center and a founding member of the National Comprehensive Cancer Network, City of Hope is ranked among the nation's "Best Hospitals" in cancer by U.S. News & World Report. Its main campus is located near Los Angeles, with additional locations throughout Southern California and in Arizona. For more information about City of Hope, follow us on Facebook, Twitter, YouTube or Instagram.

Forward-Looking Statement
This news release contains forward-looking statements concerning our expectations, anticipations, intentions, beliefs or strategies regarding the future.  These forward-looking statements are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions and events to differ materially from those anticipated. You should not place undue reliance on forward-looking statements. There can be no assurance that we will be able to (i) realize the anticipated benefit from the acquisition of Ashion, (ii) successfully commercialize GEM ExTra or (iii) successfully develop or commercialize any products or services utilizing the expected collaboration efforts with TGen or City of Hope. Risks and uncertainties that may affect our forward-looking statements are described in the Risk Factors sections of our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and in our other reports filed with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Exact Sciences Contacts:

Investor Contact:
Megan Jones
mjones@exactsciences.com
608-535-8815

Media Contact:
Steph Spanos      
sspanos@exactsciences.com
608-556-4380

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SOURCE EXACT SCIENCES CORP

FAQ

What is the impact of Exact Sciences' acquisition of Ashion Analytics on EXAS stock?

The acquisition aims to enhance Exact Sciences' capabilities in precision oncology, potentially positively impacting EXAS stock through expanded market reach.

When was the acquisition of Ashion Analytics announced by Exact Sciences?

The acquisition was announced on April 14, 2021.

What are the expected benefits of the collaboration with TGen for EXAS?

Collaboration with TGen is expected to improve advanced cancer diagnostics, benefiting both research and patient care.

What is the GEM ExTra® test mentioned in the Exact Sciences press release?

The GEM ExTra® test is a comprehensive genomic cancer test that will be offered as part of Exact Sciences' expanded oncology services.