In January 2001, the company had its initial public offering on NASDAQ. In March 2009, Kevin Conroy joined Exact Sciences as CEO & president. In June 2009, Exact Sciences and the Mayo Clinic established a mutual collaboration and licensing agreement. In August 2014, Cologuard received premarket approval from the Food and Drug Administration In August 2017, Exact Sciences purchased Sampleminded, a healthcare information technology company based in Salt Lake City, Utah, for $3.2 million. In January 2018, during the J.P Morgan Healthcare Conference, Exact Sciences announced its purchase of Armune Bioscience, a cancer diagnostic developer based out of Kalamazoo and Ann Arbor, Michigan. Third-quarter financial reports revealed the price of the Armune Bioscience acquisition to be valued at $12 million, plus $17.5 million in incentives for certain milestones. In January 2018, Exact Sciences completed a $690 million convertible bond offering. In October 2018, Exact Sciences announced the acquisition of Biomatrica, a developer of sample preservation technology based in San Diego, California. Financial reports revealed the purchase price to be $20 million with an additional $20 million in incentives for certain milestones. In June 2019, Exact Sciences opened a new lab and warehouse with 169,000 square feet to expand its Cologuard test. In July 2019 in its largest acquisition yet, Exact Sciences announced its intention to buy Genomic Health, a genetic cancer detection company based in Redwood City, California, for $2.8 billion. In March 2020, Exact Sciences purchased Paradigm Diagnostics and Viomics, two companies based in Phoenix, Arizona that would expand their lab testing and research and development capabilities.
Products
In August 2014, the U.S. Food and Drug Administration approved the company’s at-home multitarget stool DNA screening test called Cologuard, for the detection of colorectal cancers and pre-cancers. This test has a false positive rate of 13%. Pipeline products include esophageal, breast, lung, liver, and pancreatic cancer testing.
Partnerships
Since 2009, Exact Sciences has maintained a collaboration with Mayo Clinic for its current and future products. In 2009, Exact Sciences also completed a licensing agreement with Hologic for its molecular detection platform. In April of 2017, Exact Sciences and MDxHealth agreed to share technology on a variety of epigenetics and molecular diagnostics applications for 5 years. In August of 2018, Exact Sciences and Pfizer Inc. announced an agreement through 2021 to co-promote Cologuard. In November of 2018, Exact Sciences announced a partnership with Epic Systems for order entries.
