EXACT Sciences Corporation (EXAS) Awarded Federal Grant to Support Its Cancer Screening Product Development
11/2/2010 9:41:31 AM
MADISON, Wis.--(BUSINESS WIRE)--Exact Sciences Corp.(Nasdaq: EXAS) today announced it has been awarded a $244,500 therapeutic discovery grant from the Internal Revenue Service to aid the company in its development of CologuardTM, an sDNA screening test aimed at detecting both colorectal cancers and pre-cancers. The Qualifying Therapeutic Discovery Project was enacted as part of the health care reform legislation passed earlier this year. In order to qualify under the program’s guidelines, Exact Sciences had to show reasonable potential to produce a new therapy to prevent, detect or treat chronic or acute disease and conditions; reduce long-term health costs; or significantly advance the goal of curing cancer within a 30-year period.