Illumina To Pay $8 Billion For Jeff Bezos-backed Cancer Testing Firm Grail

The deal would give Illumina access to Grail’s test for early detection of cancer from blood called Galleri, which is expected to launch commercially in 2021.

Grail plans to follow Galleri with future blood-based tests for cancer diagnosis, detection and post-treatment monitoring of cancer patients, the companies said.

Earlier this month Grail, in which Illumina is the biggest shareholder with a near 14.5% stake, filed for a U.S. initial public offering, without disclosing the offering size.

Under the terms of the agreement, Grail stockholders, including Illumina, will receive $3.5 billion in cash and $4.5 billion in shares of Illumina common stock.