Illumina is Grail’s largest shareholder, holding a 14.5% stake, and the deal is almost a month after the startup filed for a stock market listing.
Grail stockholders, including Illumina, will receive $3.5 billion in cash and $4.5 billion in shares of Illumina stock, the companies saidGrail plans to follow Galleri with more blood tests for cancer diagnosis, detection and post-treatment monitoring of cancer patients. Most liquid biopsies use next-generation sequencing to scan blood samples for fragments of tumor DNA in people previously diagnosed with cancer.
Analysts peg the market for liquid biopsies in the range of least $30 billion to $130 billion in the United States alone.“We don’t see the clear fit for acquiring a company that is still at a stage where clinical studies and clinical product development are still critical and will be for years,” Cowen analyst Doug Schenkel said in a client note.
Acquiring Grail would also create conflicts with many of Illumina’s existing clinical customers, Schenkel added, noting that many of Illumina’s major customers have ambitions to develop liquid biopsy based cancer screening tools.Reporting by Manojna Maddipatla in Bengaluru; Editing by Saumyadeb Chakrabarty and Bernard Orr
Hate is a purely human feeling. It doesn't exist anywhere in the wild. A lion kills a Zebra because it wants to eat, not because it's been pissing it off with its ass stripes.
Real question is why does Jeff Bezos own a cancer testing firm?
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