EXACT SCIENCES CORPORATION (NASDAQ:EXAS) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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EXACT SCIENCES CORPORATION (NASDAQ:EXAS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On April 25, 2017, Exact Sciences Corporation (the “Company,” “we,” “us” and “our”) and MDxHealth S.A. (“MDx”) entered into a Royalty Buy-Out Agreement (the “Agreement”), which terminates our License Agreement with MDx (formerly Oncomethylome Sciences, S.A.) dated July 26, 2010, as previously amended (the “License Agreement”). to the Agreement, we agreed to pay to MDx a one-time fee of $8.0 million in exchange for an assignment of certain patents covered by the License Agreement and the elimination of all ongoing royalties and other payments under the License Agreement. Concurrently with entering into the Agreement, we also (i) entered into a Patent Purchase Agreement with MDx to which we agreed to pay MDx $7.0 million in exchange for the assignment of certain other patent rights which were not covered by the License Agreement, and (ii) entered into a Collaboration Agreement with MDx to which we established a structure to facilitate potential collaboration regarding future epigenetic and molecular diagnostic products.

A copy of the Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Item 1.02 Termination of a Material Definitive Agreement.

The information included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 1.02.

Item 9.01 Financial Statements and Exhibits.

Exhibits

The exhibit furnished as a part of this Current Report on Form 8-K is listed in the Exhibit Index attached hereto and incorporated herein by reference.


About EXACT SCIENCES CORPORATION (NASDAQ:EXAS)

Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of some forms of cancer. The Company’s product pipeline includes Lung Cancer Nodules, Pancreatic Cancer Screening, Esophageal Cancer Screening, Lung Cancer Pipeline, Pancreatic Cancer Pipeline and Esophageal Cancer Pipeline. It has developed a non invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a non invasive stool based deoxyribonucleic acid (DNA) screening test designed to detect DNA markers. In addition to DNA markers, its test includes a protein marker to detect blood in the stool, utilizing an antibody based fecal immunochemical test. The United States Food and Drug Administration (FDA) approved Cologuard for use as sDNA non-invasive colorectal cancer screening test. Cologuard is available through healthcare providers. It also focused on developing its pipeline for future products and services.

EXACT SCIENCES CORPORATION (NASDAQ:EXAS) Recent Trading Information

EXACT SCIENCES CORPORATION (NASDAQ:EXAS) closed its last trading session down -1.09 at 23.80 with 3,590,525 shares trading hands.