Exact Sciences acquired sample preservation technology developer Biomatrica to support efforts to develop a blood-based cancer detection test.
Here's what you should know:
1. The companies aren't disclosing financial terms of the deal.
2. Biomatrica will become a wholly-owned Exact Sciences subsidiary but continue to operate out of San Diego.
3. Biomatrica has eight U.S. utility patents, one U.S. design patent and 36 foreign patents. The company has four patents pending in the U.S.
4. Exact Sciences Chairman and CEO Kevin Conroy said, "To detect cancer at its earliest stages, you need the right team backed by the highest-quality science, data and materials. Biomatrica's preservation chemistry ensures the reliability of results, even when blood and other biological samples undergo the stresses of shipping and storage."