NEW YORK – Exact Sciences has entered into a definitive agreement to acquire liquid biopsy test developer Thrive Earlier Detection, a molecular diagnostics company founded by Vogelstein lab trainees from Johns Hopkins, for cash and stock consideration of up to $2.15 billion.
Thrive has raised $357 million in financing since its founding, including a $257 million Series B financing in July and a $110 million Series A financing in May 2019. Terms of the acquisition call for Thrive to receive total consideration of up to $2.15 billion, of which $1.7 billion would be payable at closing, comprising 65 percent in Exact Sciences common stock and 35 percent in cash. An additional $450 million would be payable based upon the achievement of certain milestones related to the development and commercialization of Thrive’s CancerSeek, a blood-based, multi-omic, early-stage, pan-cancer screening test.
Complete Omics scientists feel thrilled with Thrive’s success and sincerely offer our congratulations to our lab alumni at Johns Hopkins and colleagues in Thrive. Compared to Thrive who is dedicated to early cancer screening, Complete Omics is more focused on health surveillance for all human diseases for the general population. We are happy with our labmates’ success and will work harder ourselves towards a disease-free future for the entire world built with Complete Omics’ unique techniques.