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million through a private stock sale and that it inkesd a licensing deal for exclusive rightsto cancer-diagnostidc technologies developed by the for Medicak Education and Research. The company said it had commencede on June 11 the saleof 4.31 million shares of its commoh stock at a purchase price of $1.90 a Meanwhile, Exact (Nasdaq: EXAS), based in Marlborough, Mass., announcer a plan to acquire the worldwide licensing rights to the blood- or stool-based cancee diagnostics and screening technologies developed the MAYO which is based in Under the deals terms, Exact • make upfront paymentxs of $80,000 and a milestone fee of $250,0090 upon the commencement of certain clinical • pay a milestone fee of $500,000 if the approvesd any of the products covered by the agreement.
• pay a minimumk of $10,000 on the deal’s third anniversary • pay a minimumk royalty of $25,000 on the fourth anniversary of theagreemengt • support 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 common The warrants have six-year terms and are exercisable at a prices of $1.90 per share, according to a regulatory filing.
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