Exact Sciences Acquires 2 Cancer Diagnostic Companies
Exact Sciences (NASDAQ: EXAS) is on a bit of an acquisition spree. Having closed its acquisition of Genomic Health in November, the diagnostic test maker announced it was buying two privately held cancer diagnostic companies, Paradigm Diagnostics and Viomics, on Tuesday after the closing bell.
Paradigm Diagnostics has a genomic profiling test for patients with advanced, refractory, or recurrent cancer to help doctors determine which drug the patient should be treated with next. The company has already gained Medicare coverage for the test. There's plenty of competition in the space, but Exact claims that Paradigm's test "requires smaller sample requirements and delivers faster results."
Viomics has DNA sequencing capabilities and has been identifying biomarkers that could be used to detect cancer. Assuming the research plays out, Exact plans to use the biomarkers in future tests it may offer.
Source Fool.com
