MADISON, Wis., Jan. 13, 2021 /PRNewswire/ -- Exact Sciences
Corp. (Nasdaq: EXAS) today announced that it has acquired a
worldwide exclusive license to the proprietary TARDIS technology
from The Translational Genomics Research Institute (TGen), an
affiliate of City of Hope. This compelling and technically distinct
approach will help expand Exact Sciences' leadership in precision
oncology and offers a differentiated patient-specific solution in
minimal residual disease testing.
Analysis of DNA shed into a patient's blood stream can provide a
noninvasive means of detecting the presence of a tumor. Patients
who have undergone initial treatment may only have small amounts of
tumor DNA in their blood, which can be difficult to detect with
conventional technology. TARDIS was developed to be highly
sensitive and customizable for each patient, including those with
only a trace amount of tumor remaining following surgery or other
localized treatment that is undetectable by
imaging.i
"Exact Sciences is uniquely positioned to lead cancer
diagnostics with our broad foundation and the talented team that
created Cologuard® and Oncotype DX®," said Kevin Conroy, chairman and CEO of Exact
Sciences. "We're excited to work with TGen and City of Hope to
bring the incredible TARDIS technology to physicians and patients
and deliver a better solution in minimal residual disease to
improve cancer patient outcomes."
In a study published in Science Translational Medicine,
TARDIS demonstrated high accuracy in assessing molecular response
and residual disease during neoadjuvant therapy to treat breast
cancer. TARDIS achieved up to 100-fold improvement beyond the
current limit of circulating tumor DNA detection.i
"Blood-based diagnostics are critical to the future of cancer
care, and licensing TARDIS to an industry leader like Exact
Sciences speaks volumes about its potential to positively
impact the field," said Jeffrey M.
Trent, Ph.D., TGen president and research director.
"The scale and reach Exact Sciences brings to the market means
greater access — and new hope — for patients faced with a
cancer diagnosis."
TGen became a part of City of Hope in 2016 to accelerate the
speed at which scientists and medical staff convert research
discoveries into cures for patients. City of Hope is a National
Cancer Institute-designated comprehensive cancer center and a
founding member of the National Comprehensive Cancer Network,
making it a national leader in advancing research and treatment
protocols.
"We are proud of the innovation driven by TGen in the
development of TARDIS technology and are excited about the
licensing agreement with Exact Sciences as its leadership in
screening and diagnostics combined with this novel approach will
address a very important clinical challenge in cancer care," said
Robert Stone, president and CEO,
City of Hope. "This is another example of City of Hope working with
a leading organization around a joint vision to develop truly
world-class solutions to transform the treatment of cancer
patients."
XMS Capital is serving as financial advisor to Exact Sciences,
and K&L Gates is serving as legal advisor. Citi is serving as
financial advisor to TGen and City of Hope, and Jones Day is serving as legal advisor.
About Exact Sciences Corp.
A leading provider of cancer screening and diagnostic tests, Exact
Sciences relentlessly pursues smarter solutions providing the
clarity to take life-changing action, earlier. Building on the
success of Cologuard and Oncotype DX, Exact Sciences is investing
in its product pipeline to take on some of the deadliest cancers
and improve patient care. Exact Sciences unites visionary
collaborators to help advance the fight against 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.
About TGen, an affiliate of City of
Hope
Translational Genomics Research Institute (TGen)
is a Phoenix, Arizona-based
nonprofit organization dedicated to conducting groundbreaking
research with life-changing results. TGen is affiliated with City
of Hope, a world-renowned independent research and treatment center
for cancer, diabetes and other life-threatening
diseases: CityofHope.org. This precision medicine
affiliation enables both institutes to complement each other in
research and patient care, with City of Hope providing a
significant clinical setting to advance scientific discoveries made
by TGen. TGen is focused on helping patients with neurological
disorders, cancer, diabetes and infectious diseases through
cutting-edge translational research (the process of rapidly moving
research toward patient benefit). TGen physicians and scientists
work to unravel the genetic components of both common and complex
rare diseases in adults and children. Working with
collaborators in the scientific and medical communities worldwide,
TGen makes a substantial contribution to help our patients through
efficiency and effectiveness of the translational process. For more
information, visit: tgen.org. Follow TGen
on Facebook, LinkedIn and Twitter
@TGen.
About City of Hope
City of Hope is an independent
biomedical research and treatment center for cancer, diabetes and
other life-threatening diseases. Founded in 1913, City of Hope is a
leader in bone marrow transplantation and
immunotherapy such as CAR T cell therapy. City of
Hope's translational research and personalized treatment protocols
advance care throughout the world. Human synthetic insulin,
monoclonal antibodies, and numerous breakthrough
cancer drugs are based on technology developed at the
institution. AccessHope™, a wholly owned
subsidiary, was launched in 2019, dedicated to serving employers
and their health care partners by providing access to City of
Hope's exceptional cancer expertise. A National Cancer
Institute-designated comprehensive cancer center and a founding
member of the National Comprehensive Cancer Network, City of Hope
is ranked among the nation's "Best Hospitals" in cancer by U.S.
News & World Report. Its main campus is located near
Los Angeles,
with additional locations throughout Southern California and in Arizona. For more information about City
of Hope, follow us
on Facebook, Twitter, YouTube or Instagram.
Forward-Looking Statement
This news release contains
forward-looking statements concerning our expectations,
anticipations, intentions, beliefs or strategies regarding the
future. These forward-looking statements are based on
assumptions that we have made as of the date hereof and are subject
to known and unknown risks and uncertainties that could cause
actual results, conditions and events to differ materially from
those anticipated. There can be no assurance that any products or
services will be successfully developed or marketed utilizing
TARDIS. Therefore, you should not place undue reliance on
forward-looking statements. Risks and uncertainties that may affect
our forward-looking statements are described in the Risk Factors
sections of our most recent Annual Report on Form 10-K and any
subsequent Quarterly Reports on Form 10-Q, and in our other reports
filed with the Securities and Exchange Commission. We undertake no
obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
i. McDonald et al., Sci Transl Med 2019
Exact Sciences Contacts
Investor Relations:
Megan Jones
meganjones@exactsciences.com
608-535-8815
Media:
Katie Boyce
kboyce@exactsciences.com
608-710-3903
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