Exact Sciences to acquire Thrive Earlier Detection for $2.15bn.

Exact Sciences, a molecular diagnostics company, agreed to acquire Thrive Earlier Detection, a healthcare company dedicated to incorporating earlier cancer detection into routine medical care, from a consortium of investors for $2.15bn, of which $1.7bn would be payable at closing, comprised of 65% in Exact Sciences common stock and 35% in cash. An additional $450m would be payable based upon the achievement of certain milestones related to the development and commercialization of a blood-based, multi-cancer screening test. “The acquisition of Thrive is a giant leap toward ensuring blood-based, multi-cancer screening becomes a reality and eventually, the standard of care. We couldn’t be more excited that Exact Sciences will be at the forefront of this incredible opportunity to serve patients. We have long respected the Thrive team for their rigorous scientific approach, having participated in both funding rounds as an investor. We are proud to take our partnership to the next level by leveraging Exact Sciences’ established R&D team and highly accurate testing platform to augment development of CancerSEEK and accelerate its commercialization. By combining the expertise of both organizations, we believe we can bring this powerful technology to patients faster,” Kevin Conroy, Exact Sciences Chairman and CEO.