NASDAQ: EXAS 69.82
-1.56 -2.18% Minimum 20 min delay
11:05 AM ET on Nov 19, 2018
Volume: 251,522
NASDAQ: EXAS 69.82
-1.56 -2.18% Minimum 20 min delay
11:05 AM ET on Nov 19, 2018
Volume: 251,522

Exact Sciences Strengthens Pipeline Capabilities with Acquisition of Biomatrica, a Leading Provider of Biological Sample Preservation Technology

10/18/2018
Technology Promotes High-Quality Results from Liquid Biopsy Cancer Tests

MADISON, Wis. and SAN DIEGO, Oct. 18, 2018 /PRNewswire/ -- Exact Sciences Corp. (Nasdaq: EXAS) today announced the acquisition of Biomatrica, a leading developer, manufacturer and provider of sample preservation technology, including blood and saliva sample collection tubes, to the biotech industry. Biomatrica's sample collection tubes, which contain proprietary, sample-stabilizing chemistry, ensure quality preservation of circulating tumor DNA, cells and other biomarkers in biological specimens throughout shipment and storage. Exact Sciences intends to use Biomatrica's proprietary technology to support ongoing and future development of its own blood-based cancer detection tests.

Exact Sciences Corporation Logo (PRNewsfoto/EXACT SCIENCES CORP)

"To detect cancer at its earliest stages, you need the right team backed by the highest-quality science, data and materials," said Kevin Conroy, chairman and CEO of Exact Sciences. "Biomatrica's preservation chemistry ensures the reliability of results, even when blood and other biological samples undergo the stresses of shipping and storage."

Established in 2005, Biomatrica holds eight issued United States utility patents, one issued U.S. design patent, and 36 issued patents in foreign jurisdictions. Four additional patents are pending in the U.S. These patents pertain to technologies that stabilize biological materials. Under the terms of the acquisition, Biomatrica will operate as a wholly owned subsidiary of Exact Sciences and will continue to supply tubes and sample preservation technologies to other companies.

"The ability of Biomatrica's chemistry to preserve biomarkers at the molecular and cellular level in blood and saliva is unmatched in the industry," said former CEO and current General Manager of Biomatrica Nick Ecos. "In Exact Sciences we were fortunate to find a customer and now owner who shares our vision for taking the critical front-end biomarker collection step in diagnostics and consumer genomics workflows to a new standard of reliability and operational efficiency. We look forward to continuing to deploy our capabilities in Exact Sciences' early cancer screening pipeline as well as with our expanding client base in diagnostics and consumer genomics."  

Biomatrica will remain based in San Diego. Financial terms of the transaction are not being disclosed.

About Exact Sciences
Exact Sciences Corp. is a molecular diagnostics company focused on the early detection and prevention of the deadliest forms of cancer. The company has exclusive intellectual property protecting its non-invasive, molecular screening technology for the detection of colorectal cancer. For more information, please visit the company's website at www.exactsciences.com, follow Exact Sciences on Twitter @ExactSciences or find Exact Sciences on Facebook.

Exact Sciences Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate" or other comparable terms. All statements other than statements of historical facts included in this news release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, anticipated results of our sales and marketing efforts, expectations concerning payer reimbursement and the anticipated results of our product development efforts. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully and profitably market our products and services; the acceptance of our products and services by patients and healthcare providers; our ability to meet demand for our products and services; the willingness of health insurance companies and other payers to cover Cologuard and adequately reimburse us for our performance of the Cologuard test; the amount and nature of competition from other cancer screening and diagnostic products and services; the effects of the adoption, modification or repeal of any healthcare reform law, rule, order, interpretation or policy; the effects of changes in pricing, coverage and reimbursement for our products and services, including without limitation as a result of the Protecting Access to Medicare Act of 2014; recommendations, guidelines and quality metrics issued by various organizations such as the U.S. Preventive Services Task Force, the American Cancer Society, and the National Committee for Quality Assurance regarding cancer screening or our products and services; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, licensing and supplier arrangements; our ability to maintain regulatory approvals and comply with applicable regulations; and the other risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q. 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 Corp
Media Contact:
J.P. Fielder
+1 608-210-5220
jpfielder@exactsciences.com

Investor contact:
Megan Jones
Meganjones@exactsciences.com
+1 608-210-5220

 

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