Molecular diagnostics company Exact Sciences has agreed to buy cancer-detection company Thrive Earlier Detection for $2.5 billion in cash and stock.
Under the terms of the 65% stock-35% cash deal, Thrive Earlier Detection will receive $1.7 billion up front . An additional $450 million will be payable to Thrive subject to milestones related to the development and commercialization of a blood-based, multi-cancer screening test.
Exact Sciences CEO Kevin Conroy said that the acquisition will allow Exact Sciences to add Thrive's early-stage cancer-screening test, CancerSEEK, into its blood-based screening platform.