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Exact Sciences Buys Time with Genzyme Deal

On the heels of its rejection of a buyout from Sequenom, Exact Sciences announced a $24.5 million IP licensing deal with Genzyme. The transaction effectively halted Sequenom's takeover effort and bought Exact time for clinical development of a next-generation version of its stool-based colorectal cancer screening test. It'sa hefty deal, but Exact's path to sustainability remains problematic.

In late January, on the heels of its rejection of a buyout from Sequenom Inc. worth approximately $41 million [See Deal], Exact Sciences Corp. announced a $24.5 million intellectual property licensing deal with Genzyme Corp. The transaction effectively halted Sequenom’s takeover effort and bought Exact time for product development, which had stalled last year when the company was forced to cut back its operations. It’s a hefty deal, but Exact’s path to sustainability remains problematic.

In exchange for $16.65 million in cash upfront and $1.85 million over the next year-and-a-half, plus a $6 million equity...

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