Deals
Illumina Said Close to Buying Bezos-Backed Cancer Firm Grail
- Cancer company could be valued at more than $8 billion in deal
- Startup’s backers include Gates, Merck and Johnson & Johnson
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Genetic sequencing giant Illumina Inc. is in talks to acquire cancer-detection startup Grail Inc., according to people familiar with the matter.
Illumina could pay more than $8 billion for Grail, said the people, who asked not to be identified as the details aren’t public. The startup had a valuation of $6 billion from its previous fundraisings, said the people. As a private company Grail has raised more than $1.9 billion, regulatory filings show.