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 the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
