Exact Sciences To Leave Marlborough
Marlborough-based Exact Sciences Corp. has received a $1 million loan from the Wisconsin Department of Commerce to relocate its headquarters and operations to Madison, Wisc.
The company expects to make a significant investment in its relocated operations, creating as many as 150 jobs over five years, as it achieves its commercial milestones, according to an official press release from the state of Wisconsin.
The company will use its loan for equipment and working capital related to the relocation.
“We’re grateful to Governor Doyle and the Department of Commerce for their support of Exact Sciences Corp.’s relocation to Wisconsin,” said Kevin Conroy, the company’s president and chief executive, in a prepared statement.
Conroy is the former president and chief executive of Third Wave Technologies Inc. of Madison.
Exact Sciences recently closed a deal to privately place $8.2 million worth of its common stock.
It also struck a deal with the Mayo Clinic in Rochester, Minn., to develop noninvasive diagnostics for colorectal cancer under a new licensing and collaboration agreement.
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