Forget the IPO, Illumina is nearing a buyout of $1.9B liquid biopsy startup Grail — report
Grail, the $1.9 billion, Jeff Bezos-backed liquid biopsy startup, may not be going public after all.
Wednesday morning, a week after the biotech filed for an IPO, Bloomberg reported that Illumina was closing in on a deal for the vaunted spinout. Grail spun out of the sequencing giant in 2017 and subsequently landed just under $2 billion from big-name investors on the promise of developing a blood test to detect cancer far earlier and less invasively than currently possible.
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