Exact Sciences to acquire Thrive Earlier Detection in landmark $2.15bn deal

In a move set to revolutionize cancer detection, Exact Sciences, a prominent US molecular diagnostics company, has announced its acquisition of Thrive Earlier Detection. This deal, valued at up to $2.15 billion, positions Exact Sciences at the forefront of the burgeoning field of blood-based, multi-cancer screening. The acquisition reflects the growing demand for early-stage cancer diagnostics and aims to accelerate the widespread adoption of potentially life-saving screening tests.

Thrive Earlier Detection: A Leader in Early Cancer Detection

Thrive Earlier Detection, headquartered in Cambridge and Baltimore, is a healthcare company renowned for its innovative approach to cancer detection. The company developed CancerSEEK, an early-stage screening test designed to detect multiple types of cancer in their nascent stages. CancerSEEK uses a unique combination of mutation and protein biomarkers to identify cancers that have not yet shown symptoms.

In a large-scale study involving 10,000 patients, CancerSEEK demonstrated impressive results, detecting 10 different types of cancer, including seven types for which no standard screening guidelines currently exist. The test also showed low false-positive rates, a critical factor in improving diagnostic accuracy and patient outcomes. The test’s success in real-world clinical settings has placed Thrive Earlier Detection on the map as a leader in advancing early cancer detection.

Strategic Acquisition to Enhance CancerSEEK’s Impact

Exact Sciences, known for its expertise in molecular diagnostics, sees Thrive’s CancerSEEK as an ideal addition to its portfolio. By combining the scientific strengths and resources of both companies, Exact Sciences aims to enhance the accuracy of CancerSEEK and expedite its development for broader clinical use.

Kevin Conroy, Chairman and CEO of Exact Sciences, expressed his enthusiasm for the acquisition, stating, “The acquisition of Thrive is a giant leap toward ensuring blood-based, multi-cancer screening becomes a reality and eventually, the standard of care.” He further added that Exact Sciences is committed to leveraging its established research and development (R&D) team and testing platform to accelerate the commercialization of CancerSEEK.

The acquisition is structured with an upfront payment of $1.7 billion, made up of 65% Exact Sciences shares and 35% cash. An additional $450 million may be paid upon the achievement of certain milestones related to the development and commercialization of the screening test. This deal solidifies Exact Sciences’ role in pioneering innovative cancer detection technologies.

A Shared Mission to Save Lives Through Early Cancer Detection

David Daly, CEO of Thrive Earlier Detection, highlighted the company’s commitment to advancing cancer care, saying, “If cancer is caught early enough, it can be more effectively treated or even cured, and every patient deserves a chance for a better outcome.” He expressed confidence in the collaboration with Exact Sciences, believing that together the two companies can drive faster, more widespread adoption of their screening technology. The partnership also benefits from Thrive’s ongoing collaboration with Johns Hopkins University, further reinforcing the credibility and potential impact of their work.

The Broader Implications of the Acquisition

This acquisition is a major step forward in Exact Sciences’ goal to become a global leader in cancer screening. By expanding its offerings to include CancerSEEK, Exact Sciences can provide a comprehensive diagnostic platform that not only detects multiple types of cancer at earlier stages but also contributes to better patient outcomes through timely intervention.

Moreover, the acquisition of Thrive Earlier Detection complements Exact Sciences’ broader strategy, which includes the recent acquisition of Base Genomics, a UK-based epigenetics company. This deal, valued at $410 million, will extend Exact Sciences’ capabilities in DNA methylation, enhancing its ability to develop cutting-edge diagnostic tools for cancer and other diseases.

The Path Forward for Cancer Screening Technology

As cancer screening becomes an increasingly critical part of healthcare, advancements like CancerSEEK offer hope for more effective and accessible detection methods. The collaboration between Exact Sciences and Thrive Earlier Detection brings us closer to the goal of routine, blood-based, multi-cancer screening that could save countless lives.

The acquisition is still subject to regulatory approval and other conditions but is expected to be completed by Q1 2021. Once finalized, the deal will position Exact Sciences to lead the charge in transforming the future of cancer detection.