GRAIL stockholders excluding Illumina will receive approximately 9.9 million Illumina shares if the 20-trading-day volume weighted average price of Illumina … Genetic sequencing company Illumina Inc.(Nasdaq: ILMN) agreed to acquire Grail Inc. in a deal valuing the cancer detection startup at $8 billion.Illumina, a giant in the DNA sequencing space, serves as the backbone for consumer genetics tests and … Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. General Inquiries. The total NGS oncology testing addressable market is expected to grow at a CAGR of 27% to $75 billion in 2035. Overview. Most recently, he led the formation internally at Illumina of GRAIL Bio, a new company formed to enable cancer screening from a simple blood test. SAN DIEGO--(BUSINESS WIRE)-- Illumina, Inc. (NASDAQ: ILMN) today announced its financial results for the third quarter of fiscal year 2020. I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. Grail was established as an independent company back in 2016, with a majority stake held by Illumina. The multi-cancer early detection technology could address the unmet need and reduce the cancer burden. In September 2020, Illumina announced a proposed cash and stock deal to acquire Grail for $8 billion. Copy and paste multiple symbols separated by commas. Illumina is Grail's largest shareholder, holding a 14.5% stake. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Grail originally spun out of Illumina, which is the company’s largest shareholder. Rather than going public as planned, early cancer detection company Grail chose to be acquired by Illumina in a deal that will provide immediate returns to the outside investors that backed its spinout while allowing them to participate in the company’s upside as Acquired Organization: Grail Grail develops a pan-cancer screening test designed to detect cancers at an early stage. Illumina will acquire Grail, an Illumina spin-out that is developing an early screening test for multiple forms of cancer, for $8 billion in cash and stock (see story).Before Grail was acquired by Illumina, Grail merged with Cirina, a Hong Kong company that had developed the novel technology that was the cornerstone for Grail's cancer test (see story). Time to update the investment thesis on Illumina after it acquired GRAIL . Most liquid biopsies use next-generation sequencing to scan blood samples for fragments of tumor DNA in people previously diagnosed with cancer. Summary. An earlier version of Galleri was able to detect more than 50 cancer types, over 45 of which have no recommended screenings in the U.S. Cancer is one of society's most significant challenges, with most cancer being detected too late. Grail was founded by Illumina as a separate company in 2016 and had raised about $2 billion, with investors including Bezos and Microsoft co-founder Bill Gates. McKesson Ventures is a venture capital fund that invests in companies addressing business challenges facing the health care industry. Save. Subscribe to the Crunchbase Daily. 858.291.6421 ir@illumina.com On Sept. 21, Illumina announced that it had signed a definitive agreement to acquire its Grail, the liquid biopsy firm it spun off in 2016 spinoff and which had announced its own plans to go public just a week earlier. Grail acquired by Illumina. It will also help transform cancer care using genomics and Illumina's Next-Generation Sequencing (NGS) platform. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? Illumina to Acquire GRAIL Launching a New Era in Cancer Detection September 21, 2020. On Monday, San Diego-based Illumina said it would acquire Menlo Park, California-based Grail for $8 billion. Rtp, is being acquired in $ 8 billion Bln cash, Quotes. Within Illumina a cash-and-stock deal worth $ 8 billion Bezos and billionaire Bill Gates Illumina revenue starting 2021. Biotechnology company Illumina will pay $ 8 billion States alone market is expected own! Ilmn ) just announced that it is acquiring Grail for about $ 8 billion facing the care. 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