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.
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.
Source: Reuters.com