Exact Sciences Corporation, a molecular diagnostics company that is working on new methods to detect colorectal cancer, will relocate its corporate headquarters and R&D operations to Madison, Wisconsin, according to the Wisconsin governor's office. The company expects to create up to 150 jobs over the next five years as it commercializes its research.
The company is currently located in Marlboro, Massachusetts. "We are grateful to Governor Doyle and the Department of Commerce for their support of Exact Sciences Corporation's relocation to Wisconsin," says Kevin Conroy, the company's president and CEO. "The assistance provided by the governor was a critical part of our relocation decision. We know from past experience that Wisconsin, and the Madison area in particular, is a great place to build a biotechnology company."
Conroy is a former president of a biotech company that has operations in Madison. The state will provide a $1 million loan to Exact Sciences to help with working capital and the purchase of new equipment. The governor's office did not provide information regarding the dollar amount of company's financial investment.