All articles tagged with #grail
The article discusses the Galleri multi-cancer early detection blood test, which studies DNA fragments to detect 50 types of cancer, highlighting its potential, limitations, and the author's personal experience with a negative result, emphasizing that it is not a replacement for existing screenings but a promising supplement.
A blood test called Galleri, capable of detecting 50 types of cancer with nearly 50% accuracy, is being tested on NHS patients and shows promise for annual screening of over-50s to catch cancer early, potentially saving many lives and improving survival rates.
WHO scientists are questioning the clinical trial endpoint being used by Grail to evaluate its Galleri blood test, which aims to detect multiple types of tumors early. The test is currently available in the U.S. but not yet approved by the FDA or reimbursed by Medicare, and Grail generated $30 million in revenue in the fourth quarter of 2023 while incurring a $197 million loss. If successful, the Galleri test could revolutionize cancer screening as a multi-cancer early detection test, but concerns about its evaluation process persist.
Grail, a company specializing in blood cancer tests, is seeking a new owner as it aims to expand its services. The company's tests have proven effective in detecting pancreatic cancer, a typically hard-to-diagnose disease. Patients like Paul Schneider, who was diagnosed with pancreatic cancer through a Grail blood test, have benefited from early detection and subsequent treatment.
Illumina, a gene sequencing company, has announced plans to divest cancer diagnostic test maker Grail after facing antitrust battles with U.S. and European regulators for over two years. The divestiture will be executed through a third-party sale or capital markets transaction, with the terms expected to be finalized by the second quarter of 2024. Grail, valued at $7.1 billion, is seeking to market a blood test that can diagnose various types of cancer. Illumina had reacquired Grail in 2021 despite competition concerns, and a U.S. appeals court recently ordered the Federal Trade Commission (FTC) to conduct a new review of the acquisition. The FTC had expressed concerns about Illumina's dominant position in DNA sequencing and its potential impact on competition. The divestment is also a response to pressure from activist investor Carl Icahn, who led a successful board challenge and sued Illumina over the Grail deal.
Illumina, the leading maker of DNA sequencing machines, has announced that it will divest Grail, the developer of a multi-cancer screening test, following a court decision that deemed their merger anti-competitive. Illumina plans to sell or list Grail on capital markets by the end of the second quarter of 2024, marking the end of a disastrous attempted merger that began in 2016 when Illumina spun out Grail to raise funds before re-acquiring it for $7.1 billion in 2020.
Gene-sequencing company Illumina has announced its decision to sell Grail, a cancer test developer that it acquired for $7.1 billion in 2021. This move comes after a federal appeals court largely upheld a Federal Trade Commission ruling that Illumina should unwind its deal with Grail on antitrust grounds. The sale of Grail will be executed through a third-party sale or a capital market transaction, with the goal of finalizing the deal by the end of the second quarter next year. This case is seen as a test of regulators' efforts to prevent big companies from acquiring fledgling innovators, and it may have implications for other tech giants and dominant companies in their respective fields.
The planned $7.1 billion acquisition of cancer test developer Grail by Illumina has been sent back to the Federal Trade Commission (FTC) by a U.S. appeals court, which upheld the regulator's finding that the deal is anticompetitive. The court determined that the FTC used a standard incompatible with the Clayton Act and vacated its order, remanding the case for reconsideration. Illumina has filed a draft registration statement for a potential divestiture of Grail, and if it fails to overturn the European Commission's order or the appeals court rules against it, Illumina will proceed with the divestiture.
A U.S. appeals court has struck down a Federal Trade Commission (FTC) order against Illumina's acquisition of cancer diagnostic test maker Grail, stating that the agency applied the wrong legal standard. The court's decision requires the FTC to reconsider the deal. While the panel acknowledged the FTC's evidence of potential competition reduction, it also noted that the agency failed to properly consider Illumina's commitment to continue selling its DNA sequencing services to other firms. Illumina had argued that the FTC unconstitutionally exercised its powers, but the court rejected this claim. The FTC sees the decision as a victory for antitrust enforcement, while Illumina is reviewing the ruling.
The U.S. Securities and Exchange Commission (SEC) has launched an investigation into Illumina's $7.1 billion acquisition of cancer detection test maker Grail. The SEC has requested documents and communications related to the acquisition, as well as information on the "conduct and compensation" of certain members of the companies' management. Illumina is cooperating with the investigation, while its shares fell 3.6% following the news. The gene sequencing company had previously repurchased Grail in 2021, despite opposition from antitrust regulators, and was fined €432 million by the EU last month for closing the deal before approval.
The Securities and Exchange Commission (SEC) is investigating Illumina over its $7.1 billion acquisition of cancer test developer Grail. The SEC has requested documents and communications related to the deal, as well as information about the "conduct and compensation" of certain members of both companies' management. Illumina, which has already faced scrutiny from antitrust regulators, is cooperating with the investigation. The company's market value has significantly declined since closing the deal, and it has also been fined by the European Commission for closing the acquisition without regulatory approval. Illumina has appealed the decision and expects a final outcome in late 2023 or early 2024.
The European Commission has ordered Illumina to pay a €432 million ($476 million) fine for acquiring cancer-testing firm Grail without regulatory approval. Illumina closed the deal in 2021 despite an ongoing antitrust investigation by the EU. The EU stated that merging companies must not implement mergers until approved by the Commission, and failure to comply with this "standstill obligation" has resulted in the significant fine.
Illumina has been fined a record $476 million by the European Union for closing its acquisition of cancer test developer Grail without obtaining regulatory approval. The fine amounts to 10% of Illumina's turnover, the maximum allowed under EU merger rules. Illumina plans to appeal the decision. The company's market value has significantly declined since the acquisition, but it maintains that the deal will benefit shareholders and save lives. The European Commission also issued a symbolic fine to Grail, marking the first time the target of an acquisition has been fined. Illumina expects a final decision on its appeal in late 2023 or early 2024.
Illumina, a US genetic testing company, is expected to face a record EU antitrust fine for closing its takeover of Grail before obtaining approval from EU regulators. The European Commission is likely to impose a fine of up to 10% of Illumina's global revenue, the maximum allowed under EU merger rules. Illumina has already set aside $458 million for a potential fine. The EU has taken a tough stance against closing deals before final regulatory approval and has fined several companies in the past for this offense. Illumina has challenged the EU's decision to block the deal and is contesting the order to keep Grail separate.
Francis deSouza has resigned as CEO of Illumina following mounting shareholder discontent around the company's $7.1 billion acquisition of early cancer detection startup Grail, which anti-monopoly regulators in the U.S. and Europe are seeking to unwind. The resignation came just weeks after the DNA sequencing company endured a proxy fight with activist investor Carl Icahn, who criticized the company's leadership for its handling of the Grail acquisition. DeSouza defended the decision to close the Grail acquisition before getting regulatory approval and said his belief in the potential of Grail's technology remains unshakeable.