Agilent Technologies, Inc. and Exact Sciences Corp., a leading provider of cancer screening and diagnostic tests, have entered into a definitive agreement for the sale of Resolution Bioscience to Exact Sciences. 

Agilent Technologies had acquired Resolution Bioscience Inc, a leader in the development and commercialisation of next-generation sequencing (NGS)-based precision oncology solutions, for $695 million.

The acquisition complemented and expanded Agilent’s capabilities in NGS-based cancer diagnostics and provided the company with innovative technology to further serve the needs of the fast-growing precision medicine market.

According to Sam Raha, senior vice president, Agilent, and president, Diagnostics and Genomics Group, “Exact is a leading centralised laboratory for advanced cancer diagnostic testing with significant capabilities and resources in this area, which makes Resolution Bioscience a strategic fit for them. This agreement will enable the talented Resolution Bioscience team to continue their work advancing diagnostic solutions for their customers and patients, a very positive outcome of this transaction.”