Exact Sciences to consider alternatives including possible sale of the company

By Lisa Kerner

Charlotte, N.C., March 18 - Exact Sciences Corp. said its board of directors will evaluate strategic alternatives for the company with the assistance of Leerink Swann.

Alternatives could include a sale of the company or a merger, according to a company news release.

Exact Sciences does not intend to comment further on the matter unless the board has approved a definitive transaction.

The company also announced that its board has promoted Jeffrey R. Luber to president and chief executive officer, from president.

Luber, who will also become a member of Exact Sciences' board, replaces interim CEO Patrick J. Zenner.

Zenner, a board member since 2003, will continue to serve on the board.

On Feb. 28, Exact Sciences shareholder Intrinsic Value Asset Management, Inc. urged the company to hire an investment banking firm to sell the company to the highest bidder in a period of 30 to 90 days.

Exact Sciences, based in Marlborough, Mass., develops screening technologies for cancer detection.

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