Exact Sciences Strengthens Pipeline Capabilities with Acquisition of Biomatrica, a Leading Provider of Biological Sample Preservation Technology
Technology Promotes High-Quality Results from Liquid Biopsy Cancer Tests
MADISON, Wis. and SAN DIEGO, Oct. 18, 2018 /PRNewswire/ -- Exact Sciences Corp. (Nasdaq: EXAS) today announced the acquisition of Biomatrica, a leading developer, manufacturer and provider of sample preservation technology, including blood and saliva sample collection tubes, to the biotech industry. Biomatrica's sample collection tubes, which contain proprietary, sample-stabilizing chemistry, ensure quality preservation of circulating tumor DNA, cells and other biomarkers in biological specimens throughout shipment and storage. Exact Sciences intends to use Biomatrica's proprietary technology to support ongoing and future development of its own blood-based cancer detection tests.
"To detect cancer at its earliest stages, you need the right team backed by the highest-quality science, data and materials," said Kevin Conroy, chairman and CEO of Exact Sciences. "Biomatrica's preservation chemistry ensures the reliability of results, even when blood and other biological samples undergo the stresses of shipping and storage."
Established in 2005, Biomatrica holds eight issued United States utility patents, one issued U.S. design patent, and 36 issued patents in foreign jurisdictions. Four additional patents are pending in the U.S. These patents pertain to technologies that stabilize biological materials. Under the terms of the acquisition, Biomatrica will operate as a wholly owned subsidiary of Exact Sciences and will continue to supply tubes and sample preservation technologies to other companies.
"The ability of Biomatrica's chemistry to preserve biomarkers at the molecular and cellular level in blood and saliva is unmatched in the industry," said former CEO and current General Manager of Biomatrica Nick Ecos. "In Exact Sciences we were fortunate to find a customer and now owner who shares our vision for taking the critical front-end biomarker collection step in diagnostics and consumer genomics workflows to a new standard of reliability and operational efficiency. We look forward to continuing to deploy our capabilities in Exact Sciences' early cancer screening pipeline as well as with our expanding client base in diagnostics and consumer genomics."
Biomatrica will remain based in San Diego. Financial terms of the transaction are not being disclosed.
About Exact Sciences
Exact Sciences Corp. is a molecular diagnostics company focused on the early detection and prevention of the deadliest forms of cancer. The company has exclusive intellectual property protecting its non-invasive, molecular screening technology for the detection of colorectal cancer. For more information, please visit the company's website at www.exactsciences.com, follow Exact Sciences on Twitter @ExactSciences or find Exact Sciences on Facebook.
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Exact Sciences Corp
Media Contact:
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SOURCE EXACT SCIENCES CORP
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