All articles tagged with #illumina
Illumina unveiled the Billion Cell Atlas, a massive dataset mapping how gene perturbations affect 200 cell lines to accelerate drug discovery via AI-powered models and virtual cells; with about 150 million cells generated so far and a goal of a billion by year-end, the company has signed on Merck, AstraZeneca, and Eli Lilly as initial customers.
Illumina has appointed Dr. Eric Green, a renowned genomics leader and former NHGRI director, as its new Chief Medical Officer to advance the clinical application of genomics and expand access to precision medicine. The company also announced the departure of its chief commercial officer, Everett Cunningham, who will become a CEO of a life science tools company.
Illumina is acquiring SomaLogic for $350 million to enhance its proteomics capabilities and advance its multiomics strategy, leveraging SomaLogic's data-driven proteomics technology to expand in a high-growth market and integrate with Illumina's sequencing ecosystem.
The Federal Trade Commission (FTC) secured a major victory as an appeals court ruled in favor of its argument against the biotech company Illumina's acquisition of Grail, a cancer test maker. The court found that the deal would "substantially lessen competition" in the cancer diagnostics industry, despite the companies not being direct competitors. This win highlights the success of the FTC's aggressive enforcement strategy under Chair Lina Khan. The decision comes amidst heightened scrutiny of agency enforcement reviews and lawsuits seeking to limit agency powers. Illumina has agreed to divest Grail, and its shares rose 6% in premarket trading.
U.S. stock futures edge higher as investors anticipate potential Federal Reserve interest rate cuts next year. Gene-sequencing group Illumina plans to divest blood cancer-test seller Grail to appease antitrust regulators. Shares in China's SenseTime slip after the death of its founder. Gold prices rise due to the Fed's dovish outlook. Oil prices are volatile as traders consider Russian export reductions, attacks on commercial vessels, weak business morale data from Germany, and a forecast from Goldman Sachs.
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.
Illumina, a leading DNA-reading company, saw its stock crash after slashing its outlook due to macro pressures impacting the life sciences tools industry. The company expects to ship fewer NovaSeq X instruments than previously anticipated, citing purchasing constraints and lengthened sales cycles. Illumina's stock tumbled 9.3% as a result. Additionally, the company continues to face challenges with its acquisition of Grail, as European regulators have ordered Illumina to divest Grail. Analysts have lowered their price targets on Illumina stock, but still believe in the company's long-term potential in the DNA sequencing market.
Illumina, a leading genomics company, has lowered its annual profit forecast for the second consecutive quarter due to supply chain disruptions and increased competition. The company's shares fell by 10% following the announcement.
EU regulators are expected to order Illumina, a leading genomics company, to sell its recently acquired cancer treatment group, GRAIL, for around $8 billion due to concerns over competition. The regulators are concerned that Illumina's ownership of GRAIL could hinder competition in the market for liquid biopsy tests, which are used to detect cancer.