Commercial-stage precision diagnostics company MDxHealth has signed an asset purchase agreement with Genomic Health, a subsidiary of Exact Sciences, to acquire its prostate cancer testing operations, Oncotype DX, for a total consideration of USD 100 million. Through this acquisition the company aims to reinforce its position in the precision diagnostics urology market. Exact Sciences’ urology sales and marketing team will join MDxHealth as well.

Under the terms of the acquisition the consideration will include USD 25 million in cash and USD 5 million worth of American depositary shares. Additionally, Exact Sciences has the option to receive up to USD 70 million in future milestone payments through 2025. The acquisition was financed using a loan and security agreement with an affiliate of Innovatus Capital Partners. 

Exact Sciences’ portfolio of genomic tests provides personalized insights to treat patients with tumors. To date, they have served more than 1.5 million patients in over 90 countries. The Oncotype DX Genomic Prostate Score test measures the expression of genes in prostate cancer cells to treat patients diagnosed with prostate cancer.  

MDxHealth provides actionable molecular diagnostic information to help treat cancer. The company has three molecular tests; Select mdx – which is a urine test prior to biopsy to identify men at risk of prostate cancer, confirm mdx which is a post biopsy tissue test to identify any undetected risks, and a urinary tract infection (UTI) test. The company has operations in the Netherlands and US.