Exact Sciences is set to acquire Johns Hopkins spinout Thrive Earlier Detection for up to $2.15bn in cash and stock, including $1.7bn upfront.
Thrive Earlier Detection, a US-based cancer screening technology spinout of Johns Hopkins University, yesterday agreed to an acquisition by molecular diagnostics company Exact Sciences, one of its existing backers, for up to $2.15bn.
The transaction consists of cash and stock, and Exact Sciences will pay $1.7bn upon the deal’s closure. The $1.7bn upfront payment will be made up of 65% of stock and 35% of cash, while the remaining $450m will be subject to milestones.
The purchase remains…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
