Illumina to acquire Jeff Bezos-backed cancer testing company
Genetic sequencing company Illumina is set to pay $8 billion for Grail, a cancer detection company that was spun out of Illumina four years ago.
Announced on Monday, September 21, the deal comes a few weeks after Grail—which is backed by investors including Amazon founder Jeff Bezos and philanthropist Bill Gates— filed to go public.
Grail is developing Galleri, an investigational multi-cancer early detection blood test. According to the company, an earlier version of Galleri was able to detect more than 50 cancer types, more than 45 of which have no recommended screening in the US.
Galleri is expected to launch commercially in 2021 as a multi-cancer, laboratory developed test for early cancer detection from blood.
Francis deSouza, Illumina’s president and CEO, said: “Over the last four years, Grail’s talented team has made exceptional progress in developing the technology and clinical data required to launch the Galleri multi-cancer screening test.”
Grail plans to follow Galleri with more blood-based tests for cancer diagnosis, detection and post-treatment monitoring of cancer patients.
Hans Bishop, CEO of Grail, added: “We believe multi-cancer early detection technology could address a tremendous unmet need and reduce the cancer burden worldwide. Combining forces with Illumina enables broader and faster adoption of Grail’s innovative, multi-cancer early detection blood test, enhancing patient access and expanding global reach.”
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