Base Genomics, an Oxford Sciences Innovation (OSI) portfolio company, has been acquired by Exact Sciences for a total consideration of $410m.
Base Genomics, founded by OSI Entrepreneur in Residence Ollie Waterhouse in 2018, is aiming to set new industry standards for the detection of methylated DNA, used to detect cancer at an early stage.
Waterhouse worked alongside Dr Chunxiao Song and Dr Yibin Liu of the Ludwig Institute for Cancer Research Branch at the University of Oxford to develop a new approach to DNA methylation technology – a breakthrough chemical intervention called TAPS.
OSI has financially supported Base Genomics since its inception, by strengthening the team with commercial and scientific expertise.
Through its partnership with Exact Sciences, a specialist in early cancer detection, Base Genomics will be able to accelerate its clinical and commercial development.
Exact Sciences will continue to build on the Base Genomics team in Oxford, with the aim of creating a world-leading research centre for early stage cancer detection.
“I would like to thank OSI for their commitment to Base Genomics over the past two years, supporting us from inception to this next, exciting stage in our journey,” said Ollie Waterhouse, chief executive officer of Base Genomics.
“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,” he added.