Exact Sciences Sues Rival Geneoscopy Related To Colon Cancer Test Cologuard Patent

Exact Sciences Corp EXAS filed a patent infringement lawsuit against Geneoscopy in the U.S. District Court for the District of Delaware.

The lawsuit seeks damages and a court order to stop Geneoscopy from making, using, selling, or offering ColoSense product for sale or otherwise infringing on Exact Sciences' U.S. Patent No. 11,634,781.

Also Read: Exact Sciences' Stock Offers A 'Good Entry Point,' This Bullish Analyst Says.

Exact Sciences utilizes the patented '781 technology in its Cologuard stool DNA-based colorectal cancer screening test. The patent covers clinically essential methods for processing the collection of fecal samples at home in a manner that preserves the integrity of biomarkers contained in the sample to allow for subsequent analysis in a clinical laboratory.

Exact Sciences said it had sent Geneoscopy a cease-and-desist letter related to ColoSense, prompting Geneoscopy to request that the U.S. Patent and Trademark Office reexamine the '781 patent. The USPTO, Exact Sciences said, rejected the challenge and confirmed all patentability claims of the '781 patent.

"Exact Sciences pioneered a significant scientific breakthrough that has touched millions of patient lives," Kevin Conroy, chairman and CEO of Exact Sciences, said in a statement. "We worked tirelessly to develop Cologuard, a first-of-its-kind diagnostic that has been used to screen for colorectal cancer more than 13 million times."

Price Action: EXAS shares are up 7.77% at $65.92 on the last check Friday.