Press Release October 27, 2020

Thrive Earlier Detection To Be Acquired By Exact Sciences For Up To $2.15 Billion

The Life Sciences team advised Thrive Earlier Detection Corp. on its definitive agreement under which Exact Sciences Corp. (Nasdaq: EXAS) will acquire Thrive for cash and stock consideration of up to $2.15 billion.

Thrive is a healthcare company dedicated to incorporating earlier cancer detection into routine medical care. A leading provider of cancer screening and diagnostic tests, Exact Sciences relentlessly pursues smarter solutions providing the clarity to take life-changing action, earlier.

Combining Thrive's pioneering early-stage screening test, CancerSEEK, with Exact Sciences' best-in-class scientific platform, clinical organization, and commercial infrastructure will establish Exact Sciences as a leading competitor in blood-based, multi-cancer screening.

Under the terms of the agreement, Thrive will receive total consideration of up to $2.15 billion, of which $1.7 billion would be payable at closing, comprised of 65% in Exact Sciences common stock and 35% in cash, subject to certain adjustments. An additional $450 million would be payable based upon the achievement of certain milestones related to the development and commercialization of a blood-based, multi-cancer screening test.

The Goodwin team was led by Kingsley Taft, William Collins, and Nicole Daley, and included Brittany Morreale, Joshua Tarr, Kristina Jacobs, Michael Shuster, Susan Hubl, Erini Svokos, Yasee Zahedi, Daniel Karelitz, John Stern, Nicole Spiteri, Andrea Murino, Kirby Lewis, Matthew Wheatley, Sarah Bock, James Devendorf, Ariel Gaknoki, Stephanie Philbin, Steven Tjoe, Jennifer Fay, and Christina Bitter.

For more details, read the press release and articles in STAT, Reuters, and MedTech Dive.