Illumina to Acquire GRAIL for ~$8B

Shots:

• Illumina to acquire GRAIL in cash & stock transaction for $8B including ~$3.5B in cash and $4.5B in shares of Illumina common stock. Illumina founded GRAIL in 2016 and later spun out it to develop state-of-the-art data science, ML and create the atlas of cancer signals in the blood, enabling multi-cancer early detection tests
• GRAIL to receive CVR and future payments representing a pro-rata portion of certain GRAIL-related revenues/ year for 12yrs., reflecting a 2.5% payment right to the first $1B of revenue each year for 12yrs. and 9% CVR if revenue is above $1B. Additionally, GRAIL to get the option to receive additional cash and/or stock consideration, prior to closing, in lieu of the CVR
• The acquisition will transform cancer care using genomics and NGS platform and accelerates commercialization and adoption of transformative multi-cancer screening tests with the potential to detect cancer. GRAIL expects to launch Galleri in 2021 which can detect 50+ cancer indications

Click here ­to­ read full press release/ article | Ref: Grail | Image: Nature