Blood-based cancer detection company Base Genomics has been sold to cancer diagnostic leader, Exact Sciences in a deal worth $410M.
Base Genomics’ technology centres around identifying disease-related DNA methylation changes using TAPS (TET-assisted pyridine borane sequencing) with the aim of detecting early-stage cancers from a simple blood test.
The TAPS technology was developed in Chunxiao Song’s laboratory at the University of Oxford’s Ludwig Institute for Cancer Research on the Old Road campus – the location of the world-leading medical research campus and home of the BioEscalator, the high-growth biotech incubator where Base Genomics resides.
Base Genomics CEO, Ollie Waterhouse commented ”We are delighted to be joining Exact Sciences, a world leader in early cancer detection that has focused on DNA methylation for over a decade. Together, we look forward to developing a multi-cancer early detection blood test, which could be one of the most impactful oncology products in history.”
Base Genomics was incorporated in July 2019 by Oliver Waterhouse, an Entrepreneur in Residence at OSI. The Oxford-based life sciences fund is a major investor in the company and has supported Base Genomics from inception.
Exact Sciences was founded in 1995 to develop cancer screening methods, including DNA testing for colorectal cancer. Its Cologuard test received FDA approval in 2014 and in 2019 the company combined with Genomic Health to become leaders in global cancer diagnostics. It has recently acquired Thrive Earlier Detection Corp, in addition to Base Genomics, to increase capabilities in early-stage cancer detection through non-invasive techniques.