Ultima Genomics and Exact Sciences enter long-term supply agreement aimed at improving patient access to genomic testing by driving down sequencing costs
NEWARK, Calif. and MADISON, Wis., June 21, 2022 /PRNewswire/ -- Ultima Genomics, Inc. and Exact Sciences Corporation (Nasdaq: EXAS) have entered a long-term supply agreement for Ultima's next-generation sequencing (NGS) technologies. Under the terms of the supply agreement, Ultima Genomics will provide access to its NGS products, which are based on a new architecture designed to enable sequencing at a fraction of the cost of other commercially available technologies. The companies also plan to develop one or more of Exact Sciences' advanced cancer diagnostic tests using Ultima's sequencing technology. In conjunction with the agreement, Exact Sciences became an investor in Ultima and joined its ongoing early access program for its high-throughput NGS instrument platform, the UG 100™. The collaboration is aimed at driving down the high cost of sequencing to improve patient access to genomics-based testing and human health.
"Exact Sciences believes access to differentiated and affordable genomics technologies is critical to providing patients better information before diagnosis and across all stages of cancer treatment," said Kevin Conroy, chairman and CEO of Exact Sciences. "Ultima's mission to drive down the cost of sequencing and increase the use of genomic information supports our goal to provide accurate and affordable testing options across the cancer continuum. This is particularly important for applications like cancer screening, minimal residual disease, and recurrence monitoring, which could lead to millions of tests per year."
"We founded Ultima Genomics with the mission to continuously drive the scale of genomic information. We believe our mission is closely aligned with the goals of our customers, and we look forward to enabling Exact Sciences and others to perform sequencing at a fraction of the cost today," said Gilad Almogy, CEO of Ultima Genomics. "We designed our new sequencing architecture to scale beyond conventional technologies, and are excited to soon make the UG 100™, our first instrument using this architecture, commercially available to more customers. In the future, we aim to continuously improve our technology, further drive down costs, and increase the scale of genomic information to improve patient outcomes."
Over the last 5 years, Ultima Genomics has developed a fundamentally new sequencing architecture designed to scale beyond conventional approaches, including completely different flow cell engineering and sequencing chemistry, and machine learning. Ultima is currently in an early access program for the UG 100™, its first high-throughput NGS instrument using this new technology architecture.
Ultima Genomics is unleashing the power of genomics at scale. The Company's mission is to continuously drive the scale of genomic information to enable unprecedented advances in biology and improvements in human health. With humanity on the cusp of a biological revolution, there is a virtually endless need for more genomic information to address biology's complexity and dynamic change—and a further need to challenge conventional next-generation sequencing technologies. Ultima's revolutionary new sequencing architecture drives down the costs of sequencing to help overcome the tradeoffs that scientists and clinicians are forced to make between the breadth, depth, and frequency with which they use genomic information. The new sequencing architecture was designed to scale far beyond conventional sequencing technologies, lower the cost of genomic information and catalyze the next phase of genomics in the 21st century. To learn more, visit www.ultimagenomics.com
A leading provider of cancer screening and diagnostic tests, Exact Sciences relentlessly pursues smarter solutions providing the clarity to take life-changing action, earlier. Building on the success of Cologuard and Oncotype tests, Exact Sciences is investing in its product pipeline to support patients before and throughout their cancer diagnosis and treatment. Exact Sciences unites visionary collaborators to help advance the fight against cancer. For more information, please visit the company's website at www.exactsciences.com, follow Exact Sciences on Twitter @ExactSciences, or find Exact Sciences on Facebook.
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 Exact Sciences' management has 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. There can be no assurance that Exact Sciences will enter into a development agreement with Ultima, utilize Ultima's products or services in Exact Sciences' current or future tests, or successfully develop, launch, or market any additional tests. Therefore, you should not place undue reliance on forward-looking statements. Risks and uncertainties that may affect Exact Sciences' forward-looking statements are described in the Risk Factors sections of Exact Sciences' most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and in its other reports filed with the Securities and Exchange Commission. Exact Sciences undertakes 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.
Ultima contact: press@ultimagenomics.com
Exact Sciences investor contact: Megan Jones, meganjones@exactsciences.com, 608-535-8815
Exact Sciences media contact: Stephanie Spanos, sspanos@exactsciences.com, 608-800-6648
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SOURCE Ultima Genomics; Exact Sciences
Company Codes: NASDAQ-SMALL:EXAS