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Exact Sciences seeks buyer

This article was originally published in The Gray Sheet

Executive Summary

Colorectal cancer test developer hires investment banking firm Leerink Swann to assist its evaluation of "strategic alternatives," including the potential sale of the company. Announced March 18, the move follows CMS' Jan. 30 proposal not to cover the company's PreGen-Plus stool-based DNA screening assay technology, which is licensed to LabCorp for use as a testing service. Coverage was blocked as a result of an FDA warning letter sent to Exact Sciences last October, which said that the colonoscopy alternative required regulatory review (1"The Gray Sheet" Feb. 4, 2008, In Brief)

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