Exact Sciences, which has a significant Arizona presence, is being purchased by Abbott in a deal valued at up to $23 billion. Founded in 1995, Exact Science is a Wisconsin-based company most known for its colon cancer screening test, Cologuard, and an early-stage breast cancer test, Oncotype. In Phoenix, its team is based in the TGen, or Translational Genomics Research Institute’s, downtown building in the Phoenix Bioscience Core, The Arizona Republic reported this fall.
The company backed out of a planned expansion near Phoenix Sky Harbor International Airport earlier this year. The expansion made headlines in the Valley in October 2023 after the Phoenix City Council approved a development agreement with $6.6 million in incentives to help Exact Sciences build a 250,000-square-foot cancer detection facility with labs, office space, and manufacturing and warehouse areas. The company said the decision to pull out of the project “was based purely on business and operational considerations.”