Illumina, partners make US$100m bet to detect cancer via blood test
Chicago
GENE sequencing company Illumina Inc is going after the next big advance in cancer detection, working to develop a universal blood test to identify early-stage cancers in people with no symptoms of the disease.
On Sunday, San Diego-based Illumina said it would form a new company, called Grail, with more than US$100 million in Series A financing. Illumina will be the majority owner. Key investors include technology giants Bill Gates, founder of Microsoft, and Jeff Bezos, founder of Amazon.com, as well as backing from ARCH Venture Partners and Sutter Hill Ventures.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Sheng Siong Q1 net profit up 9.3% on higher revenue
Nestle sales growth sputters on US slump, vitamin snags
Hermes Q1 sales jump 17% on strong China demand
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Cordlife customers push for legal action