Illumina Will Pay $8Bn To Buy Back Cancer Screening Start-Up Grail
Illumina announced today it will buy back Grail to allow faster adoption of its liquid biopsy test.
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Investor Deerfield Management and genomic sequencing giant Illumina entered into a five-year partnership to identify novel targets and drug candidates that may be spun out into new companies.
The company launched the lab test in the US. New results from PATHFINDER trial showed an earlier version of Galleri can detect many types of cancer, including early-stage cancer that has yet to metastasize.
Illumina announced plans to acquire Grail for about $8bn in September 2020, but the US FTC says the proposed acquisition will diminish innovation in the US market for multi-cancer testing.