Illumina has urged a DC federal judge to send the Federal Trade Commission’s suit challenging the biotech firm’s planned US$8 billion takeover of Grail to California.
The Federal Trade Commission has filed a lawsuit to block Illumina’s $7.1 billion acquisition of Grail, a liquid biopsy specialist. If FTC is successful, San Diego, CA-based Illumina would fail to bring Grail, the company it launched in 2016, back into the fold.
FTC’s complaint alleges the proposed acquisition will diminish innovation in the U.S. market for multi-cancer early detection tests. MCED tests could be used to detect up to 50 types of cancer, most of which are not screened for at all today, saving millions of lives around the world.
Illumina said it intends to pursue all legal options to complete the acquisition and deliver the strategic benefits to its stakeholders.
“Combining Grail’s innovative multi-cancer early detection test with Illumina’s experience and scale will enable more patients in both the United States and worldwide to garner access to Grail’s test faster,” said Hans Bishop, CEO of Grail. “We continue to believe that together we could transform cancer care by catching more cancers earlier.”
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