Exact Sciences Corp. (Nasdaq: EXAS) today announced that it has entered into an agreement to acquire Ashion Analytics, LLC (Ashion) from The Translational Genomics Research Institute (TGen), an affiliate of City of Hope. Ashion is a CLIA-certified and CAP-accredited sequencing lab based in Phoenix, Arizona with the genomics testing capabilities necessary to address the increasingly complex needs of clinical, academic, and biopharma customers focused on precision cancer treatments. The team at Ashion will help accelerate the development of Exact Sciences' precision oncology portfolio, including minimal residual disease (MRD) and other sequencing-based tests.
This acquisition will build upon the recent license of the TARDIS technology from TGen and strengthen the relationship between the institutions through a planned 10-year research collaboration. TARDIS is a highly sensitive, patient-specific liquid biopsy-based test that can detect small amounts of tumor DNA in blood for use in MRD testing.
Exact Sciences continues to strengthen the robust foundation established for Oncotype to lead precision oncology," said Kevin Conroy, chairman and CEO of Exact Sciences. "We're excited to work with Ashion to bring the TARDIS technology to patients faster and continue to develop advancements in MRD testing. We're thrilled to collaborate with TGen and City of Hope, complementing our relationships with other world-renowned cancer research leaders including Mayo Clinic and Johns Hopkins University."
Ashion leverages the genetic information from a patient's tumor and normal genomes to provide industry-leading oncology solutions. Ashion developed GEM ExTra®, one of the most comprehensive genomic cancer tests available, and provides access to whole exome, matched germline, and transcriptome sequencing capabilities. The team at Ashion will be instrumental in incorporating the TARDIS technology into Exact Sciences' MRD test development.
Under the agreement, Exact Sciences would also enter a 10-year collaboration, bringing in the expertise of TGen and City of Hope, to develop differentiated MRD testing capabilities for patients and establish the clinical evidence necessary to drive adoption.
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