Exact Sciences Completes Acquisition Of Ashion Analytics, LLC, From The Translational Genomics Research Institute, An Affiliate Of City Of Hope
Talented team and industry-leading lab will help strengthen the company’s sequencing and pipeline capabilities, while broadening its therapy selection and treatment guidance offerings
MADISON, Wis., April 14, 2021 — Exact Sciences Corp. (NASDAQ: EXAS) today announced that it has completed its previously announced acquisition of Ashion Analytics, LLC.
“As a leader in cancer testing, we’re committed to providing earlier answers and life-changing treatment guidance to support patients along every step of their cancer journey,” said Kevin Conroy, chairman and CEO of Exact Sciences. “With Ashion, we’ve added a talented team, a CLIA-certified and CAP-accredited lab, deep sequencing capabilities, and one of the most comprehensive genomic cancer tests available on the market today with GEM ExTra®. This expertise will be integral in helping us extend our leadership in precision oncology and in serving more patients across the cancer continuum, including therapy selection and minimal residual disease testing.”
Exact Sciences and The Translational Genomics Research Institute (TGen) are expanding their multi-year collaboration to further benefit from TGen and City of Hope’s expertise in developing better advanced cancer diagnostics and establishing the clinical evidence necessary to support their adoption.
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About Exact Sciences Corp.
A leading provider of cancer screening and diagnostic tests, Exact Sciences relentlessly pursues smarter solutions providing the clarity to take life-changing action, earlier. Fueled by the success of Cologuard and Oncotype DX, Exact Sciences is investing in its product pipeline to take on some of the deadliest cancers and improve patient care. Alongside its visionary collaborators and in partnership with communities, Exact Sciences unites the best resources to help advance the fight against cancer. For more information, please visit the company’s website at www.exactsciences.com, or follow Exact Sciences on Twitter, Facebook, or LinkedIn.
About TGen, an affiliate of City of Hope
Translational Genomics Research Institute (TGen) is a Phoenix, Arizona-based nonprofit organization dedicated to conducting groundbreaking research with life-changing results. TGen is affiliated with City of Hope, a world-renowned independent research and treatment center for cancer, diabetes and other life-threatening diseases. This precision medicine affiliation between City of Hope and TGen enables both institutions to complement each other in research and patient care, with City of Hope providing a significant clinical setting to advance scientific discoveries made by TGen. TGen is focused on helping patients with neurological disorders, cancer, diabetes and infectious diseases through cutting-edge translational research (the process of rapidly moving research toward patient benefit). TGen physicians and scientists work to unravel the genetic components of both common and complex rare diseases in adults and children. Working with collaborators in the scientific and medical communities worldwide, TGen makes a substantial contribution to help City of Hope’s patients through efficiency and effectiveness of the translational process. For more information, please visit TGen’s website or follow TGen on Facebook, LinkedIn or Twitter.
About City of Hope
City of Hope is an independent biomedical research and treatment center for cancer, diabetes and other life-threatening diseases. Founded in 1913, City of Hope is a leader in bone marrow transplantation and immunotherapy such as CAR T cell therapy. City of Hope’s translational research and personalized treatment protocols advance care throughout the world. Human synthetic insulin, monoclonal antibodies, and numerous breakthrough cancer drugs are based on technology developed at the institution. Translational Genomics Research Institute (TGen) became a part of City of Hope in 2016. AccessHopeTM, a wholly owned subsidiary, was launched in 2019, dedicated to serving employers and their health care partners by providing access to City of Hope’s exceptional cancer expertise. A National Cancer Institute-designated comprehensive cancer center and a founding member of the National Comprehensive Cancer Network, City of Hope is ranked among the nation’s “Best Hospitals” in cancer by U.S. News & World Report. Its main campus is located near Los Angeles, with additional locations throughout Southern California and in Arizona. For more information about City of Hope, follow us on Facebook, Twitter, YouTube or Instagram.
This news release contains forward-looking statements concerning our expectations, anticipations, intentions, beliefs or strategies regarding the future. These forward-looking statements are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions and events to differ materially from those anticipated. You should not place undue reliance on forward-looking statements. There can be no assurance that we will be able to (i) realize the anticipated benefit from the acquisition of Ashion, (ii) successfully commercialize GEM ExTra or (iii) successfully develop or commercialize any products or services utilizing the expected collaboration efforts with TGen or City of Hope. Risks and uncertainties that may affect our forward-looking statements are described in the Risk Factors sections of our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and in our other reports filed with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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Ashion Analytics receives Medicare coverage for GEM ExTra® assay for patients with advanced solid tumors
PHOENIX, Ariz. — July 14, 2020 — Ashion Analytics LLC announced today that Palmetto GBA, a Medicare administrative contractor for the Molecular Diagnostic Services Program (MolDX), has awarded coverage to its proprietary cancer profiling test, GEM ExTra®, one of the nation’s most comprehensive genomic cancer analysis tests.
GEM ExTra, Ashion’s flagship clinical assay, detects tumor-specific mutations, allowing physicians to make the best-available treatment recommendations for patients with advanced solid tumors. The leading-edge test provides treating physicians with vital interpreted information that they need to understand changes to a patient’s genomic profile. It outlines a therapeutic treatment plan best suited for each patient. Conditions that may benefit from this approach include treatment of refractory, rare or aggressive cancers.
“GEM ExTra was designed to be fast and accurate, and now with Medicare coverage, it is also more affordable for a larger set of patients,” said Ashion Medical Director Janine LoBello, D.O. “GEM ExTra differs from other genomic tests on the market due to its versatility, breadth and depth, including the power to sensitively detect mutations with low tumor purity.”
GEM ExTra features whole exome sequencing, a molecular-level analysis of each patient’s entire protein-coding DNA. The proprietary test identifies point mutations, amplifications, deletions, translocations and transcriptome sequencing. It flags the expression of both rare and common fusion genes and alternatively spliced transcripts (ARv7, EGFRvIII and others). Positive findings in this data may guide patient treatment, leading to more targeted, effective therapies. As an example, the test includes reporting on immuno-oncology markers, providing clinicians with important information on the potential utility of powerful immune checkpoint treatments.
GEM ExTra is available for use with a variety of biological sample types, including formalin-fixed paraffin-embedded (FFPE) tissue specimens and fresh-frozen tissue for solid tumors. Results are reported back to physicians within 14 calendar days.
“Medicare coverage of GEM ExTra allows Ashion to offer a test to the broader market that is optimized for detection of common and rare mutations and is able to identify more actionable cancer mutations than most other commercially available tests,” said Audrey Ozols, Ashion’s head of market access. “The company is well positioned for growth with payers and physicians alike by offering 44 million more patients access to a best-in-class comprehensive genomic cancer test.”
Ashion Analytics was founded by the Translational Genomics Research Institute (TGen), an affiliate of City of Hope. TGen is a pioneer in the use of genomics to identify treatment options for cancer patients.
“City of Hope patients have had access to GEM ExTra’s comprehensive exome sequencing for more than two years,” said Michael Caligiuri, M.D., president of City of Hope National Medical Center and the Deana and Steve Campbell Physician-in-Chief Distinguished Chair. “This sequencing tool often enables clinical teams to offer precision medicine so that patients are given the care most likely to put them into long-term cancer remission and improve their quality of life.”
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About GEM ExTra
To achieve complete analytic coverage of the human genome, Ashion uses a proprietary test called GEM ExTra, which covers all protein coding regions of DNA (known as the exome), and an analysis of all RNA, the messengers of DNA (known as the transcriptome). GEM stands for Genomic Enabled Medicine, and ExTra stands for Exome and Transcriptome. Ashion’s GEM ExTra sequences both the individual patient’s normal genome and the patient’s cancer genome. Then the two sets of genomic data are compared to find gene changes, known as mutations, that are specific to the tumor and that may be potentially driving the patient’s cancer.
Study highlighting RNA role presented at recent ASCO meeting
An Ashion study poster presented at the 2020 annual meeting of the American Society for Clinical Oncology (ASCO) details the importance of using RNA as part of the analysis to give cancer physicians the best possible options for treating their patients: Employing RNA Sequencing to Enhance Treatment Options for Cancer Patients.