Exact Sciences to buy cancer-screening firm Thrive Earlier Detection in $2.15 bln deal

Credit: REUTERS/Rick Wilking

Exact Sciences Corp said on Tuesday it would buy cancer-screening firm Thrive Earlier Detection Corp in a cash-and-stock deal that could be valued up to $2.15 billion.

Oct 27 (Reuters) - Exact Sciences Corp EXAS.O said on Tuesday it would buy cancer-screening firm Thrive Earlier Detection Corp in a cash-and-stock deal that could be valued up to $2.15 billion.

Exact Sciences said it expects to expand its cancer detection portfolio with Thrive's lead early-stage screening test, CancerSEEK, which successfully detected 10 different types of cancer in a 10,000-patient study in April.

Thrive will get $1.7 billion, comprising 65% of Exact Sciences' common stock and 35% in cash, under terms of the deal. An additional $450 million is payable upon completion of certain milestones.

The companies expect to close the deal in the first quarter of 2021.

(Reporting by Trisha Roy in Bengaluru; Editing by Ramakrishnan M.)

((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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