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illumina stock

Illumina To Buyout Other Shareholders

Shares in US biotech firm Illumina are trading almost 5% higher pre-market on Friday. Over recent days, Illumina shares have been well bid. This is in response to news that the company agreed to a $7.1 billion deal to buy cancer screening firm Grail Inc.

Grail is currently working on developing a liquid biopsy blood test which could diagnose cancers much earlier than current standards, improving the chances of treating the disease. The group currently projects that it will launch a trial of the test in 2021.

In 2016, Illumina founded Grail and ran it as a separate company. They attracted investments from big names including Amazon and Microsoft. However, Illumina remained the largest stakeholder with 14.5% holding in the company.

Big Growth Market

The market that Grail is involved in has been flagged as a major growth market over the coming years. Wall Street projects a $130 billion market cap in the near future. However, as yet, the technology rem...

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