Illumina announced that the company will divest GRAIL via a third-party sale or capital markets transaction, as per the European Commission's divestiture order, to finalize the terms by the second quarter of 2024.
On December 15, the US Fifth Circuit Court of Appeals issued its decision relating to Illumina vs. the Federal Trade Commission. Considering this opinion, Illumina has opted not to pursue further appeals of this decision.
GRAIL would continue to be held separately, along with committed funding from Illumina for the company's business through the divestment process. Prior to this, Illumina had spun off GRAIL in 2016 but retained a 12% stake and subsequently reacquired the company in 2021.
GRAIL has developed the Galleri test, the first clinically validated MCED test that reportedly can detect a signal shared by more than 50 types of cancer with 99.5% specificity and predict the cancer signal origin with high accuracy to help guide the next steps.
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