Exact Sciences Licenses Targeted Digital Sequencing Method To Extend Leadership In Precision Oncology
January 13, 2021
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.
"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.
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.