In late January, on the heels of its rejection of a buyout from Sequenom Inc. worth approximately $41 million [See Deal], Exact Sciences Corp. announced a $24.5 million intellectual property licensing deal with Genzyme Corp. The transaction effectively halted Sequenom’s takeover effort and bought Exact time for product development, which had stalled last year when the company was forced to cut back its operations. It’s a hefty deal, but Exact’s path to sustainability remains problematic.
In exchange for $16.65 million in cash upfront and $1.85 million over the next year-and-a-half, plus a $6 million equity...
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