Illumina-Backed Healthcare Company Grail Inc. Files for IPO
September 09 2020 - 7:26AM
Dow Jones News
By Colin Kellaher
Healthcare company Grail Inc. on Wednesday filed with the U.S.
Securities and Exchange Commission for a proposed initial public
offering.
Grail's filing indicates it plans to raise $100 million,
although that figure is often used as a placeholder to calculate
filing fees.
The Menlo Park, Calif., company, which focuses on the early
detection of cancer, said it has applied to list its shares on the
Nasdaq Global Select Market under the symbol GRAL.
Grail's backers include Illumina Inc., which currently holds a
14.6% stake, and Johnson & Johnson, which owns a 7.6%
interest.
Illumina launched Grail in 2016 with a group of other investors
aiming to develop and market a test to detect genetic evidence of
cancer in the blood.
Grail in May said it had raised $390 million in a Series D
funding round.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 09, 2020 07:11 ET (11:11 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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