illumina acquire grail

An earlier version of Galleri was able to detect more than 50 cancer types, over 45 of which have no recommended screening in the United States. san diego & menlo park, calif.-- (business wire)-- illumina, inc. (nasdaq: ilmn) and grail, a healthcare company whose mission is focused on multi-cancer early detection, today announced they have entered into a definitive agreement under which illumina will acquire grail for cash and stock consideration of $8 billion upon closing of the It is mission critical for us to deliver innovative, flexible, and scalable solutions to meet the needs of our customers. Illumina expects to close the transaction in the second half of 2021. Grail plans to launch its test for early detection of cancers, Galleri, next year. You can sign up for additional alert options at any time. Revenue above $1 billion each year will be subject to a 9% contingent payment right during this same period. Galleri is among the most promising new tools in the fight against cancer, and we are thrilled to welcome GRAIL back to Illumina to help transform cancer care using genomics and our NGS platform, said Francis deSouza, Illuminas President and Chief Executive Officer. (a) See the tables included in "Results of Operations - Non-GAAP" section below for reconciliations of these GAAP and non-GAAP financial measures. Last week, it was revealed that Illumina had an interest in acquiring Grail, in a report from Bloomberg citing people familiar with the deal. We aim to accelerate this process so the test will be available in doctors' offices everywhere, fully reimbursed," said Hans Bishop, Chief Executive Officer of GRAIL. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the effects of the consummation of the transaction and the anticipated benefits thereof. Following the acquisition of GRAIL on August 18, 2021, Illumina has two reportable segments, Core Illumina and GRAIL. 858-882-2172 GRAIL has no business in the EU, and the company believes that the European Commission does not have jurisdiction to review the merger as the EU merger thresholds are not met, nor are they met in any EU member state. Multi-cancer early detection is better for patients, their physicians, and payors. GRAIL is a healthcare company whose mission is to detect cancer early, when it can be cured. SAN DIEGO & MENLO PARK, Calif.--(BUSINESS WIRE)-- GRAIL raised approximately $2 billion to support its innovative technology platform and develop Galleri. Illumina's (NASDAQ: ILMN) plans to reduce prices and allow competitors continued access to its technology had not yet convinced EU antitrust regulators reviewing the life sciences company's $7.1B. Grail was originally formed in 2015 as a subsidiary of Illumina, but Illumina spun it off in 2017 so that . BORDER-TOP-COLOR:; VERTICAL-ALIGN: BOTTOM; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.67em }.q4default .prnsbl1{ SAN DIEGO & MENLO PARK, Calif.--(BUSINESS WIRE)-- GRAIL is focused on saving lives and improving health by pioneering new technologies for early cancer detection. The Federal Trade Commission said it would appeal a decision issued on Thursday by the agency's chief administrative judge in favor of Illumina Inc's $7.1 billion acquisition of cancer detection . BORDER-BOTTOM:black 1pt solid Accelerates Commercialization and Adoption of Transformative Multi-Cancer Screening Test with Potential to Detect More Cancers Earlier and Enable Better Outcomes, Adds Multi-Disciplinary Team and Capabilities Harnessing the Power of Next-Generation Sequencing (NGS), Population Scale Clinical Studies, and Machine Learning to Address One of Medicines Greatest Challenges, Brings Significant New Growth Opportunities in the Clinical Setting, NGS Oncology Testing Total Addressable Market Anticipated to Grow to $75 Billion by 2035. The alternative additional stock consideration (that GRAIL stockholders could elect to receive in lieu of CVRs) consisted of up to $850 million of shares of Illumina common stock, with the number of shares issued capped at a specified amount if the 20-trading-day volume weighted average price of Illumina stock as of 10 trading days prior to closing is less than $280, which did not occur. This document is not a substitute for consent solicitation statement/prospectus or registration statement or any other document which Illumina may file with the SEC. Salli Schwartz, Vice President lllumina Investor Relations 5200 Illumina Way San Diego, CA 92122. But the big genomic. }. Illumina is committed to working through the ongoing FTC administrative process, and as always, will abide by whatever outcome is ultimately reached in the US courts. We are also spending approximately $0.4 billion in cash to cover the tax withholding requirements from net settling shares of Illumina common stock issuable to GRAIL employees. Apps, DRAGEN We believe multi-cancer early detection technology could address a tremendous unmet need and reduce the cancer burden worldwide. The transaction is subject to customary closing conditions, including applicable regulatory approvals. At Illumina, our goal is to apply innovative technologies to the analysis of genetic variation and function, making studies possible that were not even imaginable just a few years ago. Upon closing of the transaction, current Illumina stockholders are expected to own approximately 93% of the combined company, while GRAIL stockholders are expected to own approximately 7% based on the mid-point of the collar. The European Commission this month vetoed a deal in which the leading DNA sequencing company Illumina acquired DNA-based cancer diagnostics specialist Grail, saying the ban is needed to leave the market open for competitor products that are in development. Illumina spun off Grail years ago but recently reacquired the liquid biopsy company. While the list of factors presented here is, and the list of factors to be presented in the registration statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Last month, the European Commission (EC) announced that it had completed its review of the acquisition and found that Illumina's acquisition of GRAIL was "incompatible with the internal market in Europe because it results in a significant impediment to effective competition." Illumina, Inc. (NASDAQ: ILMN) and GRAIL, a healthcare company whose mission is focused on multi-cancer early detection, today announced they have entered into a definitive agreement under which Illumina will acquire GRAIL for cash and stock consideration of $8 billion upon closing of the transaction. }.q4default .prnsbt0{ Illumina announced its plan to acquire Grail, a company it spun off in 2016, in late 2020. Multi-cancer early detection is better for patients, their physicians, and payors. But GRAIL currently faces a number of hurdles to widespread distribution and adoption. John Craighead, PhD As we accelerate our path to clinical leadership and the path to multi-cancer early detection, we will continue to drive significant value creation for our stockholders., Cancer is one of societys most significant challenges, with most cancer being detected too late, said Hans Bishop, Chief Executive Officer of GRAIL. It is mission critical for us to deliver innovative, flexible, and scalable solutions to meet the needs of our customers. (+) Additional Stock (in lieu of CVRs) (b), Net Consideration (excluding Illumina) (d). GRAIL was founded by Illumina in 2016 and was spun out as a standalone company, powered by Illuminas NGS technology, to develop state-of-the-art data science and machine learning and create the atlas of cancer signals in the blood, enabling multi-cancer early detection tests. Salli Schwartz, Vice President lllumina Investor Relations5200 Illumina WaySan Diego, CA 92122, Computershare Trust Company, N.A.250 Royall StreetCanton, MA 02021. }.q4default .prntar{ mburns@grailbio.com, Investors: The acquisition will allow Illumina to bring GRAIL's lifesaving testing to more patients, more quickly and at a lower cost." While the Court process is ongoing, Illumina will continue to work with the European Commission's Directorate-General for Competition to bring the review to a conclusion as quickly as possible. September 21, 2020. Illumina will offer GRAIL stockholders the option to receive additional cash and/or stock consideration, in an amount to be determined prior to closing, in lieu of the contingent value rights. Holders of approximately 46% of GRAIL total equity interests and/or awards (on a fully diluted basis; excluding Illumina) elected to receive additional shares of Illumina common stock. PADDING-RIGHT:0.50em These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements, including the failure to consummate the proposed transaction or to make any filing or take other action required to consummate such transaction in a timely matter or at all. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. The collar on the stock consideration will ensure that GRAIL stockholders excluding Illumina receive a number of Illumina shares equal to approximately $4 billion in value if the 20-trading-day . This document is not a substitute for consent solicitation statement/prospectus or registration statement or any other document which Illumina may file with the SEC. Host: https://www.illumina.com | Important risk factors that may cause such a difference include, but are not limited to: (i) the possibility of fines, penalties, remedies or restrictions sought or imposed by governmental or regulatory authorities as a result of consummating the transaction, (ii) the possibility of other adverse consequences to, among other things, Illumina's reputation, its relationships with governmental or regulatory authorities or its ability to successfully complete future acquisitions and/or divestitures as a result of consummating the transaction, (iii) the potential impact of unforeseen liabilities, future capital expenditures, revenues, costs, expenses, earnings, synergies, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of Illumina's business after the consummation of the transaction, (iv)potential adverse reactions or changes to business relationships resulting from the completion of the transaction, (v) any negative effects of the consummation of the transaction on the market price of Illumina's common stock and on Illumina's operating results, (vi)risks associated with third-party contracts containing consent and/or other provisions that have been triggered by the consummation of the transaction, (vii) the risks and costs associated with the integration of, and the ability of Illumina to integrate, GRAIL, Inc.'s ("GRAIL") business successfully and to achieve anticipated synergies, including any delay in integration following any hold separate period, (viii) the risks and costs associated with the development and commercialization of, and Illumina's ability to develop and commercialize, GRAIL's products, including Galleri, the cancer screening test developed by GRAIL; (ix)Illumina's ability to obtain regulatory clearance for its products from government agencies; (x)Illumina's ability to obtain approval by third-party payors to reimburse patients for its products; (xi) the risk that disruptions from the consummation of the transaction or any associated legal or regulatory proceedings or obligations will harm Illumina's business, including current plans and operations, (xii)legislative, regulatory and economic developments, (xiii) the other risks described in the Consent Solicitation Statement of GRAIL, Inc. and Prospectus of Illumina, Inc. (the "Consent Solicitation Statement/Prospectus") that is included in the registration statement on Form S-4 (File No. SAN DIEGO, /PRNewswire/ --Illumina, Inc. (NASDAQ: ILMN) announced todaythat it has acquiredGRAIL, a healthcare company focused on life-saving early detection of multiple cancers, but will hold GRAIL as a separate company during the European Commission's ongoing regulatory review. The company is using the power of next-generation sequencing, population-scale clinical studies, and state-of-the-art computer science and data science to overcome one of medicines greatest challenges. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Illuminas financial condition, results of operations, credit rating or liquidity. Alternatively, individuals can access the call by dialing the Toll-Free Dial-In Number: (866) 211-4597, or the International Dial-In Number: (647) 689-6853 outside North America, both with Conference ID:9955888. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. GRAIL is focused on saving lives and improving health by pioneering new technologies for early cancer detection. }.q4default .prntal{ Not for use in diagnostic procedures (except as specifically noted). Based on past experience, when Illumina enters a market, the market expands. Address of host server location: 5200 Illumina Way, San Diego, CA 92122 U.S.A. All trademarks are the property of Illumina, Inc. or their respective owners. Illumina does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. }.q4default .prnbcc{ Illumina innovative sequencing and array technologies are fueling groundbreaking advancements in life science research, translational and consumer genomics, and molecular diagnostics. GRAIL and Illumina are not competitorsthis is a vertical acquisition. BORDER-RIGHT:black 0pt Following the call, a replay will be posted on Illumina website and will be available for at least 30 days following posting. The FTC's challenge to the proposed transaction is a marked departure from longstanding antitrust precedent. GRAIL raised approximately $2 billion to support its innovative technology platform and develop Galleri. The cash consideration to GRAIL stockholders excluding Illumina of approximately $3.1 billion is expected to be funded using balance sheet cash of both Illumina and GRAIL plus up to $1 billion in capital raised through either a debt or equity issuance. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as expect, anticipate, intend, plan, believe, seek, see, will, would, may, target, similar expressions and variations or negatives of these words. Illumina (NSDQ:ILMN) announced today that it entered into an agreement to acquire Grail for cash and stock consideration of $8 billion.. Last week, it was reported that Illumina was looking to . If you experience any issues with this process, please contact us for further assistance. Variant Interpreter, MyIllumina Karen Birmingham, PhD As we accelerate our path to clinical leadership and the path to multi-cancer early detection, we will continue to drive significant value creation for our stockholders., Cancer is one of societys most significant challenges, with most cancer being detected too late, said Hans Bishop, Chief Executive Officer of GRAIL. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Illumina to Acquire GRAIL to Launch New Era of Cancer Detection. The company is using the power of next-generation sequencing, population-scale clinical studies, and state-of-the-art computer science and data science to overcome one of medicines greatest challenges. Software Suite, BaseSpace GRAIL stockholders excluding Illumina will receive approximately 9.9 million Illumina shares if the 20-trading-day volume weighted average price of Illumina stock as of 10 trading days prior to closing is above $399 and approximately 13.4 million Illumina shares if the 20-trading-day volume weighted average price of Illumina stock as of 10 trading days prior to closing is below $295. Not for use in diagnostic procedures (except as specifically noted). The collar on the stock consideration will ensure that GRAIL stockholders excluding Illumina receive a number of Illumina shares equal to approximately $4 billion in value if the 20-trading-day volume weighted average price of Illumina stock as of 10 trading days prior to closing is between $295 and $399. We expect the transaction will be accretive to Illumina revenue starting in 2021, and to meaningfully accelerate revenue growth over time. About a month ago, Grail launched Galleri its long-awaited early cancer detection test through the Clinical Laboratory Improvement Amendments of 1988 (CLIA). Alternatively, individuals can access the call by dialing the Toll-Free Dial-In Number: (866) 211-4597, or the International Dial-In Number: (647) 689-6853 outside North America, both with passcode 2245817. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Illumina may also file other documents with the SEC regarding the proposed transaction. An earlier version of Galleri was able to detect more than 50 cancer types, over 45 of which have no recommended screening in the United States. 646-355-2111 Under the terms of the agreement, at closing, GRAIL stockholders (including Illumina) will receive total consideration of $8 billion, consisting of $3.5 billion in cash and $4.5 billion in shares of Illumina common stock, subject to a collar. }.q4default .prnrbrb0{ We expect the transaction will be accretive to Illumina revenue starting in 2021, and to meaningfully accelerate revenue growth over time. The rumors are indeed true - Illumina is attempting to acquire early cancer detection specialist Grail for about $8 billion. Illumina, the global leader in next generation sequencing (" NGS ") systems for genetic and genomic analysis, announced in September 2020 its intention to acquire Grail, one of its customers active in the emerging and very competitive market for blood-based tests for early cancer detection. A federal judge recently dismissed the Federal Trade Commission's challenge of Illumina Inc.'s acquisition of Grail Inc., a cancer-screening firm started and spun off years . Following the completion of the transaction, GRAIL will operate as a standalone division within Illumina with a dedicated leadership team to ensure continuation of GRAILs success. The view from the ground is that the acquisition - which is technically speaking complete, but could be reversed - is indeed anti . Together, we have an important opportunity to introduce routine and broadly available blood-based screening that enables early cancer detection when treatment can be more effective and less costly. These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in the consent solicitation statement/prospectus that will be included in the registration statement on Form S-4 that will be filed with the SEC in connection with the proposed transaction. In connection with the proposed transaction, Illumina intends to file with the SEC a registration statement on Form S-4 that will include a preliminary prospectus with respect to Illuminas common stock and contingent value rights to be issued in the proposed transaction and a consent solicitation statement of GRAIL in connection with the proposed transaction. GRAIL stockholders, including Illumina, are entitled to cash consideration of approximately $3.5 billion or, excluding Illumina, approximately $3.1 billion. Unlistedfactors may present significant additional obstacles to the realization of forward-looking statements. The Federal Trade Commission filed an administrative complaint and authorized a federal court lawsuit to block Illumina's $7.1 billion proposed acquisition of Graila maker of a non-invasive, early detection liquid biopsy test that can screen for multiple types of cancer in asymptomatic patients at very early stages using DNA sequencing. Important risk factors that may cause such a difference include, but are not limited to: (i) the proposed transaction may not be completed on anticipated terms and timing, (ii) a condition to closing of the transaction may not be satisfied, including obtaining regulatory approvals, (iii) the potential impact of unforeseen liabilities, future capital expenditures, revenues, costs, expenses, earnings, synergies, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of Illuminas business after the consummation of the transaction, (iv) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transaction, (v) any negative effects of the announcement, pendency or consummation of the transaction on the market price of Illuminas common stock and on Illuminas operating results (vi) the risks and costs associated with the integration of, and the ability of Illumina to integrate, GRAILs business successfully and to achieve anticipated synergies, (vii) risks associated with third-party contracts containing consent and/or other provisions that may be triggered by the proposed transaction, (viii) the risks and costs associated with the development and commercialization of, and Illuminas ability to develop and commercialize, GRAILs products; (ix) the risk that disruptions from the proposed transaction will harm Illuminas business, including current plans and operations, (x) legislative, regulatory and economic developments, (xi) the other risks described in Illuminas most recent annual reports on Form 10-K and quarterly reports on Form 10-Q and in the registration statement on Form S-1 filed with the SEC by GRAIL on September 9, 2020, as amended on September 17, 2020, and (xii) managements response to any of the aforementioned factors. 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The General Court of the Investor Relations section of Illuminas web site under the company recognized 3.91 Certain GRAIL-related revenues, 2021 at 5:30 p.m propel it further into the clinical applications of its sequencers Can only be done if Illumina Acquires GRAIL to launch commercially in 2021 and. Stock ( in lieu of CVRs ) ( d ) announced last September, was billed as a multi-cancer laboratory. The acquisition was offered half in Illumina & # x27 ; t final //www.fool.com/investing/2021/04/09/could-illuminas-quest-to-acquire-grail-fail/ '' > Press -. Innovative, flexible, and other emerging segments in goodwill impairment related to your email address below, will., https: //www.illumina.com/company/news-center/press-releases/press-release-details.html? newsid=1b98ee50-90d2-467c-b72c-6b8263e4ee1e '' > Press Release - illumina.com /a!, September 21, 2020 at 8:00 a.m. EDT headquartered in Menlo Park, California, with locations in,! 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