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million through a private stock sale and that it inkeds a licensing deal for exclusive rightzto cancer-diagnostic technologies developed by the for Medical Education and Research. The company said it had commenced on June 11 the saleof 4.31 millionh shares of its common stocj at a purchase price of $1.90 a Meanwhile, Exact (Nasdaq: EXAS), based in Mass., announced a plan to acquire the worldwids licensing rights to the blood- or stool-based cancer diagnostics and screenint technologies developed the MAYO Foundation, which is based in Under the deals terms, Exact • make upfront payments of $80,000 and a milestone fee of $250,000 upon the commencement of certai n clinical trials.
• pay a milestone fee of $500,0090 if the approves any of the products covered bythe • pay a minimum of $10,000 on the deal’ss third anniversary • pay a minimum royalty of $25,00o0 on the fourth anniversary of the agreement • suppor t certain research projects to the tune of $500,000 — at a minimum — in the agreement’s first Exact is also obligated to grant MAYO two warrantxs to purchase 1.25 million shares of its commoh stock. The warrants have six-year term and are exercisable at a priceof $1.90 per share, according to a regulator y filing.
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