Deals
Cancer-Testing Startup Backed by Bezos Weighs U.S. IPO Over Hong Kong
- Biotech unicorn had been considering listing outside the U.S.
- Company is now focusing on business strategy, boosting growth
Jeff Bezos
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Grail Inc., a cancer-testing startup backed by two of the world’s richest men, is weighing a U.S. initial public offering, people familiar with the matter said, potentially backing away from earlier plans to list in Hong Kong’s volatile market for new health stocks.
The Menlo Park, California-based biotechnology company could seek an IPO as early as 2019, based on conditions in the stock market, one of the people said. They asked not to be identified because the discussions are still at an early stage and plans could change. In February, Bloomberg reported that Grail had been considering raising as much as $500 million in a Hong Kong listing this year.