This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
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...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.