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million through a private stock sale and that it inked a licensinbg deal for exclusive rightsto cancer-diagnostic technologiesx developed by the for Medical Education and The company said it had commenced on June 11 the sale of 4.31 milliomn shares of its common stock at a purchase price of $1.90 a share. Meanwhile, Exact (Nasdaq: based in Marlborough, Mass., announced a plan to acquirde the worldwide licensing rightsd tothe blood- or stool-basedd cancer diagnostics and screening technologieas developed the MAYO Foundation, which is based in Under the deals terms, Exacr will: • make upfront payments of $80,00p and a milestone fee of $250,0009 upon the commencement of certain clinical trials.
• pay a milestone fee of $500,00p0 if the approves any of the productd covered bythe agreement. • pay a minimu of $10,000 on the deal’s third anniversary • pay a minimumj royalty of $25,000 on the fourth anniversary of theagreemeng • support certain research projects to the tune of $500,000p — at a minimum — in the agreement’z first year. Exact is also obligated to grant MAYO two warrantz topurchase 1.25 million shares of its commo n stock. The warrants have six-year terms and are exercisabls at a priceof $1.
90 per according to a regulatory
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