Illumina Receives European Commission Approval to Divest GRAIL

Illumina Receives European Commission Approval to Divest GRAIL

By, Admin 16 April 2024

Overview

Illumina, Inc., a global leader in DNA sequencing and array-based technologies, announced it has received approval of its divestment plan for GRAIL from the European Commission (EC).

Divestment

  • While this does not mean the method of divestment has been finalized, the company is pleased to reach an agreement with the EC on specific divestment options as it represents an important milestone in the process. 
  • Illumina continues to explore divesting GRAIL through either a trade sale or a capital markets transaction, each of which are contemplated by the plan approved today. 
  • In the event of a capital markets transaction, Illumina must capitalize GRAIL with two-and-a-half years of funding, which is estimated at approximately $1 billion based on GRAIL's long-range plan.

Work on Approval

  • Illumina looks forward to working with the EC on approval of final terms consistent with the divestment plan. 
  • As previously stated, Illumina has a goal of finalizing those terms by the end of the second quarter of 2024.

Illumina on Human Health

  • • Illumina is improving human health by unlocking the power of the genome.
  • • Its focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets.

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