Madison-Based Manufacturer of Cologuard Focuses on a Scalable Environment that Expands Existing Footprint
MADISON, Wis.—(BUSINESS WIRE)— Exact Sciences Corp. (NASDAQ: EXAS) announced today that it will continue collaborating with the City of Madison in an attempt to establish a headquarters in Madison and is in discussions with the University of Wisconsin to develop a biotech campus that expands the company's existing operations and research and development facilities.
"This is an opportunity to work with the city, build on our current footprint in Madison and partner with the University to continue grooming its aspiring talent," said Exact Sciences Chairman and CEO Kevin Conroy. "We're grateful for the Mayor and the City Council's efforts to help efficiently bring our teams together. While the chance to build a headquarters downtown was incredibly appealing, an opportunity to develop a campus allows us to bring our team together and make a prudent investment that benefits the company and community for the long term."
Exact Sciences and its more than 425 Madison-based employees are currently stretched across three buildings in the University Research Park and the 35,000 square foot Exact Sciences Laboratories. More than sixty percent of Exact Sciences research and development staff are graduates of the UW-System.
"The City understands and respects the reasons that Exact Sciences will not be moving its corporate headquarters to the downtown. I am encouraged that the company plans to focus its future facility planning in the City of Madison at University Research Park. We will now proceed to review other development plans for parking, a new hotel and other commercial development on the downtown site," said Madison Mayor Paul Soglin. "City staff as well as those from Exact Sciences and the Hammes Corporation have invested hundreds of hours of work into this project and I am grateful for the commitment."
"I'm pleased that through University Research Park, UW-Madison is able to help the city and Exact Sciences find a solution that keeps the company in Madison. We look forward to continuing to partner with Exact Sciences on workforce development and lifesaving research," said University of Wisconsin-Madison Chancellor Rebecca Blank.
"University Research Park is one of the most concentrated communities of life sciences companies in the Midwest," said University Research Park Managing Director Aaron Olver. "We're proud to be called home by Exact Sciences and look forward to the opportunity to support their continued growth."
Established in 1984, University Research Park is an internationally recognized research and technology park that supports early-stage and growth-oriented businesses in a range of sectors, including engineering, computer and life sciences. The park is home to more than 125 companies employing more than 3,800 workers. University Research Park is a non-profit 501(c)(3) affiliated with the University of Wisconsin-Madison.
About Exact Sciences Corp.
Exact Sciences Corp. is a molecular diagnostics company focused on the early detection and prevention of the deadliest forms of cancer. The company has exclusive intellectual property protecting its noninvasive, molecular screening technology for the detection of colorectal cancer. Cologuard is included in the colorectal cancer screening guidelines of the American Cancer Society and stool DNA is included in the U.S. Multi-Society Task Force on Colorectal Cancer. For more information, please follow us on Twitter @ExactSciences or find us on Facebook.
Cologuard was approved by the FDA in August 2014 and results from Exact Sciences' prospective 90-site, point-in-time, 10,000-patient pivotal trial were published in the New England Journal of Medicine in March 2014. Cologuard is included in the colorectal cancer screening guidelines of the American Cancer Society and stool DNA is listed in the screening guidelines of the U.S. Multi-Society Task Force on Colorectal Cancer.
Cologuard is indicated to screen adults of either sex, 50 years or older, who are at average risk for colorectal cancer. Cologuard is not for everyone and is not a replacement for diagnostic colonoscopy or surveillance colonoscopy in high-risk individuals. False positives and false negatives do occur. Any positive test result should be followed by a diagnostic colonoscopy. Following a negative result, patients should continue participating in a screening program at an interval and with a method appropriate for the individual patient. Cologuard performance when used for repeat testing has not been evaluated or established. For more information about Cologuard, visit www.CologuardTest.com. Rx Only.
J.P. Fielder, 608-210-5220
Source: Exact Sciences Corp.