Doyle, Arora elected; Sterling reelected to Exact Sciences’ board of directors

MADISON, Wis.--()--Exact Sciences Corp. (Nasdaq: EXAS) today announced that James E. Doyle and Maneesh K. Arora were elected to company’s board of directors at its annual meeting of stockholders. Lionel N. Sterling has served as a director of Exact since 2010 and was reelected to the board.

Gov. James E. Doyle, 68, served two terms as governor of Wisconsin. Prior to being elected governor in 2002, Gov. Doyle served three terms as Wisconsin’s attorney general. Gov. Doyle also served as the district attorney of Dane County, Wisconsin and worked in private practice. His extensive public service includes service in the Peace Corps in Tunisia and as an attorney in a federal legal services office on the Navajo Indian Reservation. Gov. Doyle earned a bachelor’s degree from the University of Wisconsin-Madison and a law degree from Harvard Law School. Gov. Doyle is of counsel at Foley & Lardner LLP, an international law firm, and a partner of Doyle & Boyce Strategies, a consultant to several national foundations. He serves on the board of trustees of the Kaiser Family Foundation, a leading non-profit organization focused on national health issues.

Maneesh K. Arora, 45, has served as Exact’s chief operating officer since February 2012 and as a senior vice president since April 2009, when he joined the company. Mr. Arora also served as the company’s chief financial officer from April 2009 to August 2013. Prior to joining Exact, Mr. Arora worked for Third Wave Technologies Inc., a molecular diagnostics company, from 2003 until its acquisition by Hologic Inc. in July 2008. During his time at Third Wave, Mr. Arora was responsible for business strategy and commercial operations before being promoted to chief financial officer in January 2006. Mr. Arora earned a bachelor’s degree in economics from the University of Chicago and an MBA from the Kellogg Graduate School of Management at Northwestern University.

Lionel N. Sterling, 76, has served as a director since July 2010. Since 1987, he has served as president of Equity Resources Inc., a private investment firm. He previously co-founded and served as managing partner of the private investment firm Whitehead/Sterling. He also has served as chairman of the board of directors of Rayovac Corp., executive vice president and director of United Brands Co., and sector executive and chief financial officer of American Can Co. Mr. Sterling also serves as a director of GlucoTec Inc., a medical software firm focusing on in-hospital insulin control. He previously served as a director of i-STAT Corp., a medical diagnostics company; Third Wave Technologies Inc., a molecular diagnostics company; and Molecular Insight Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company. Mr. Sterling earned a bachelor’s degree from Brooklyn College and an MBA from New York University.

“We are pleased to welcome Jim and Maneesh to Exact’s board, and we are grateful for Lionel’s continued service,” said Kevin T. Conroy, the company’s chairman and chief executive. “Jim’s proven leadership, managerial capabilities and deep knowledge of governmental and legal affairs add outstanding depth to the board.

“Maneesh has been a partner in the rebirth of Exact Sciences from the start. His financial and executive experience, coupled with his knowledge of the company and the molecular diagnostics industry are a valuable addition to the board as we move closer to FDA approval and the launch of Cologuard.

“Lionel’s financial, operational and commercial experience has been invaluable to us since he joined the board in 2010. We look forward to Lionel’s continued wise counsel as we launch and commercialize Cologuard,” Mr. Conroy said.

About Exact Sciences Corp.

Exact Sciences Corp. is a molecular diagnostics company focused on colorectal cancer. The company has exclusive intellectual property protecting its non-invasive, molecular screening technology for the detection of colorectal cancer. Stool-based DNA technology is included in the colorectal cancer screening guidelines of the American Cancer Society and the U.S. Multi-Society Task Force on Colorectal Cancer. For more information, please visit the company’s website at www.exactsciences.com.

Certain statements made in this news release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable terms. Forward-looking statements in this news release may address the following subjects among others: statements regarding the sufficiency of our capital resources, expectations concerning our ability to secure and the timing of FDA approval for our Cologuard test, our ability to secure favorable reimbursement rates from Medicare and other third-party payors, timing of our launch of a commercial product, our estimates of the available market size and our potential penetration, expected research and development expenses, expected general and administrative expenses and our expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Contacts

Exact Sciences Corp.
Cara Tucker
Senior Manager, Marketing Communications
608-284-5735
or
The Luminis Group Ltd
for Exact Sciences Corp.
Rod Hise
608-807-4607

Release Summary

Exact Sciences today announced that James E. Doyle and Maneesh K. Arora were elected to company’s board of directors at its annual meeting. Lionel N. Sterling was reelected to the board.

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Contacts

Exact Sciences Corp.
Cara Tucker
Senior Manager, Marketing Communications
608-284-5735
or
The Luminis Group Ltd
for Exact Sciences Corp.
Rod Hise
608-807-4607