Boston – Global law firm K&L Gates LLP has advised Madison, Wisconsin-based Exact Sciences Corp. (Nasdaq: EXAS) on several recent transactions, including the USD $2.15 billion acquisition of health care company Thrive Earlier Detection Corp. via a mixture of cash and stock.
Based in Cambridge, Massachusetts, Thrive specializes in early cancer detection. The acquisition will help establish Exact Sciences as a leading competitor in blood-based, multi-cancer screening and is expected to close in Q1 2021, subject to regulatory approval and other conditions. The firm also advised Exact Sciences on the acquisition of epigenetics company Base Genomics for USD $410 million, which will allow Exact Sciences to advance its DNA methylation capabilities and enhance its overall efforts in cancer diagnostics.
K&L Gates also counseled Exact Sciences in a common stock sale of more than eight million shares, resulting in approximately USD $869.2 million in gross proceeds, which will be used to help pay for the acquisitions. This transaction is expected to close by the end of October, subject to regulatory closing conditions.
The transactions were led by capital markets partner Mark Busch, and included a cross-border team consisting of capital markets partner Sean Jones, M&A partner John Blair, private equity partner James Cross, tax partner Stephen Barge, antitrust partner Allen Bachman, M&A partner Lisa Stark, executive compensation partner, Ali Nardali, and employee benefits partner Rikki Sapolich-Krol.