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The company released new data showing that Cologuard 2.0 can detect colorectal cancer with higher sensitivity than the current version of the test.
The Voyage study is designed to enroll more than 150,000 people and will follow participants for at least seven years.
Exact said it will pay $72 per share for Genomic Health for a total transaction price of $2.8 billion in cash and stock.
Exact Sciences and the Mayo Clinic are working to develop a blood test for pancreatic cancer that might be able to diagnose patients with early-stage disease.
During its earnings call this week, the liquid biopsy firm said it is planning a 10,000-patient trial to test its Lunar assay for colorectal cancer screening.
The firm recently submitted an application to the US Food and Drug Administration to expand Cologuard's label to the 45 to 49 age group.
The firm reported that test volumes for its Cologuard colorectal cancer screening test also rose 79 percent year over year.