Madison-based Exact Sciences, a provider of cancer screening and diagnostic tests, has entered into an agreement with Santa Clara, California-based Agilent Technologies to acquire one of its portfolio companies: Kirkland, Washington-based Resolution Biosciences.
Resolution Bioscience develops and commercializes next-generation sequencing-based precision oncology solutions. The company uses its “ctDx platform” to offer blood-based diagnostic tests, which Exact Sciences sees as complementary to its precision oncology portfolio.
Terms of the deal were not disclosed.
“We are excited to work with the Resolution Bioscience team to integrate their innovative diagnostics into our precision oncology portfolio,” said Brian Baranick, general manager of precision oncology at Exact Sciences. “Resolution Bioscience’s high-quality liquid therapy selection platform perfectly complements our OncoExTra test, allowing Exact Sciences to help more cancer patients determine their best treatment options.”
In the company’s second quarter earnings results, Kevin Conroy, chairman and chief executive officer of Exact Sciences, said the company will continue to enhance its current tests while developing new ones that meaningfully improve patient outcomes. The company’s precision oncology segment saw revenue increase 2% compared to 2022.
“Exact is a leading centralized laboratory for advanced cancer diagnostic testing with significant capabilities and resources in this area, which makes Resolution Bioscience a strategic fit for them,” said Sam Raha, senior vice president of Agilent. “This agreement will enable the talented Resolution Bioscience team to continue their work advancing diagnostic solutions for their customers and patients, a very positive outcome of this transaction.”
