Following the referral request submitted by the Autorit de la concurrence, which was joined by several Member States of the European Economic Area (Belgium, Greece, Iceland, the Netherlands, Norway), the Commission has decided to open an examination on Illumina's acquisition of Grails transaction (see press release of 20 April 2021).. European Commission blocks Illumina-Grail deal to preserve competition in cancer test market The EC decision comes after a U.S. ruling to let the acquisition move forward and leaves Illumina facing an uncertain future in a competitive market The FTC Complaint. At the world headquarters of Illumina in San Diego, Calif., Sept. 1, 2021. The European Commission has blocked Illuminas acquisition of early cancer-detection testing company Grail, leaving the companys future uncertain after a U.S. In the press release, the firms stated that the goal was to accelerate the adoption of NGS-based early multi-cancer detection tests to reach more patients faster. SAN DIEGO, Sept. 6, 2022 /PRNewswire/ Illumina, Inc. ( NASDAQ:ILMN ), today received a decision from the European Commission prohibiting the companys acquisition These tests could be used to detect up to 50 types of cancer, most of which are not screened for at all today, saving millions of lives around the world. Illumina-Grail merger subject of in-depth EU antitrust probe By Nick Paul Taylor July 23, 2021 European officials opened a three-month investigation of the deal, valued up to $8 billion, due to concerns it may reduce competition in the emerging liquid biopsy market. Press Release. The FTCs March 2021 complaint alleged that Illuminas $7.1 billion proposed acquisition of Grail would diminish innovation in the U.S. market for MCED tests. Press Releases For Release Administrative Law Judge Dismisses FTCs Challenge of Illuminas Proposed Acquisition of Cancer Detection Test Maker Grail Agency Alleged The FTC did not respond to requests for comment by publication. FOX Business reached out to Illumina for comment on the FTC's move to appeal. September 7, 2022 | benzinga.com FTC to Appeal Illumina-Grail Merger Loss, Extending Litigation - Bloomberg. Sept. 11, 2022 12:12 pm ET. ILMN. Illumina said Thursday that the judge "rejected the FTC's position that the deal would adversely affect competition in a putative market for multi-cancer early detection (MCED) tests." The FTC first sought to challenge Illumina's acquisition of cancer detection company GRAIL in March 2021. Listen to article. The EC wrote in a statement on Tuesday t hat the merger would stifle innovation and reduce options in the blood-based early cancer Illumina will continue to work with the Directorate-General to bring the investigation to conclusion. ILLUMINA WINS FTC GRAIL CASE IN $7.1 BILLION DEAL. Press Release Press Release Illumina Acquires GRAIL to Accelerate Patient Access to Life-Saving Multi-Cancer Early-Detection Test Aug 18, 2021 GRAIL will remain a separate and independent unit, pending ongoing regulatory and legal review #News: European regulators blocked Illuminas $8 billion acquisition of GRAIL on Tuesday, dealing a whiplash blow to the biotech just days after it prevailed Rizwan Chaudhrey LinkedIn: Updated: EU swats down Illuminas $8B Grail acquisition days after FTC We leverage our vast global resources to work relentlessly and efficiently to accomplish client goals. Its Galleri blood test is intended to screen for multiple types of cancer. The crux of the FTC complaint is that a merger between Illumina and Grail would diminish innovation in the U.S. market for MCED tests. WASHINGTON, Sept. 1, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN ), today received a favorable decision from the Administrative Law Judge (ALJ) presiding over the In a Tuesday news release, Illumina said it would begin reviewing strategic alternatives for Grail, to prepare for an anticipated divestment order from the European Commission.The company has also set aside $453 million in legal contingencies to prepare for potential fines related to the deal.. Margrethe Vestager, the ECs Commissioner of Competition, This weeks headline is FTC Chair Lina Khans press toura clear sign of big things on the horizon. Illumina has said that it will Welcome to Immense Discovery Power. Illumina, GRAIL and Illumina have a long history. Illumina formed GRAIL and spun it out in 2016. GRAIL's first employees were part of Illumina, which still owns 12 percent of the company. GRAIL and Illumina are not competitorsthis is a vertical acquisition. Illumina vowed to press on. A further Commission investigation against Illumina is ongoing, relating to its breach of the standstill obligation under the EUMR following its announcement in August 2021 that it had completed the acquisition of GRAIL. Illumina, Inc. (NASDAQ: ILMN), today announced that it disagrees with the European Commissions Directorate-General for Competitions decision to review Illuminas acquisition of GRAIL, a company founded to accelerate early screening of cancer. The Federal Trade Commission has moved to block Illuminas $7.1 billion takeover of Grail on the grounds it will harm competition in the U.S. market for life-saving multi-cancer early detection (MCED) tests.. The companys stock has lost more than half of its value since it closed the deal, falling from to about $201 a share today from $517 in August 2021. Illumina acquired GRAIL, a cancer screening company originally founded by Illumina that has developed a test that can detect over 50 cancers with a simple blood draw. Illumina strongly believes that acquiring GRAIL is in the best interest of patients, is procompetitive, and benefits the multi-cancer early detection field as a whole. The EC wrote in a statement on Tuesday t hat the merger would stifle innovation and reduce options in the blood-based early cancer In a decision reached today, an administrative judge ruled that a proposed merger between Illumnia and Grail can proceed after ruling against a move by the Federal Trade Learn More NovaSeq 6000 Sequencing System is by far our most powerful instrument, designed to adapt to your needs. The NVIDIA/Arm foreshadowed several of the factors in the ECs thinking that would ultimately bring Illumina/Grail to its knees. The FTCs challenge to the In a press release Thursday, the DNA Illumina strongly believes that acquiring GRAIL is in the best interest of patients, is procompetitive, and benefits the multi-cancer early detection field as a whole. This past week she spoke with the AP, Axios, CNN, The Hill, Politico, Protocol, New York Times, Vox, Wall Street Journal, and Washington Post, and probably more. This is the first time since The FTC Complaint. In contrast to the Commissions prohibition decision, the US Federal Trade Commission administrative court (the FTCs in-house court) last week issued a decision supporting Illuminas WASHINGTON, Sept. 1, 2022 /PRNewswire/ Illumina, Inc. ( NASDAQ:ILMN ), today received a favorable decision from the Administrative Law Judge (ALJ) presiding over the News Releases Featured Content Fact Sheets Illumina to Acquire GRAIL to Launch New Era of Cancer Detection . Download this Press Release PDF Format (opens in new window) SAN DIEGO--(BUSINESS WIRE)-- Illumina, Inc. (NASDAQ: ILMN), today announced that it disagrees with, and SAN DIEGO, Sept. 6, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), today received a decision from the European Commission prohibiting the company's acquisition of GRAIL. Post a press release. WASHINGTON, Sept. 1, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), today received a favorable decision from the Administrative Law Judge (ALJ) presiding over the Federal Trade Commission's (FTC) challenge of the GRAIL acquisition. GRAIL will remain a separate and independent unit, pending ongoing regulatory and legal review Illumina, Inc. (NASDAQ: ILMN) announced today that it has acquired GRAIL, a healthcare company focused on life-saving early detection of multiple cancers, but will hold GRAIL as a separate company during the European Commission's ongoing regulatory review. Illumina-Grail Deal Blocked by European Union's Antitrust Regulator -- WSJ - MarketWatch. In 1999, Illumina acquired Spyder Instruments (founded SAN DIEGO, Sept. 6, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), today received a decision from the European Commission prohibiting the company's acquisition of The European Commission has blocked Illuminas acquisition of early cancer-detection testing company Grail, leaving the companys future uncertain after a U.S. administrative judge ruled last week to let the merger move forward.. The Federal Trade Commission has filed an administrative complaint and authorized a federal court lawsuit to block Illuminas $7.1 billion proposed acquisition of Graila maker of a Illumina closed the Grail acquisition in 2021 while it still faced antitrust challenges on both sides of the Atlantic, and has been holding it as a separate entity. Read the full article In the press release announcing its prohibition The EC decision follows last week's ruling by US Federal Trade Commission judge in favor of Illumina's The European Commissions decision concerns Illuminas acquisition of GRAIL, which completed in August 2021 without prior EU merger approval. Latham & Watkins, a global law firm, advises the businesses and institutions that power the global economy. View Full Release 09/21/2020 GRAIL Announces Filing of Registration FOX Business reached out to Illumina for comment on the FTC's move to appeal. Grail was spun out of Illumina in 2016. Administrative Law Judge Dismisses FTCs Challenge of Illuminas Proposed Acquisition of Cancer Detection Test Maker Grail News and Events Show/hide News and Events menu items. Grail raises a $900m series B round, then the largest-ever VC funding deal: Sep 9, 2020: Grail says it intends to float on the Nasdaq: Sep 21, 2020: Illumina announces its intention to acquire Grail: Mar 30, 2021: The FTC challenges the deal: Aug 18, 2021: Illumina closes the acquisition, keeping Grail as a separate business unit: Sep 1, 2022 Illumina remains In a Tuesday news release, Illumina said it would begin reviewing strategic alternatives for Grail, to prepare for an anticipated divestment order from the European The FTC filed a lawsuit in March 2021 to stop Illuminas $7.1 billion deal to buy its former subsidiary Grail, arguing the deal would slow innovation for tests designed to detect multiple kinds of cancer. Acting Chairwoman Slaughter was quoted in the FTCs press release announcing its challenge to the Illumina/Grail merger, stating [i]f this acquisition is consummated, it would likely reduce innovation in this critical area of healthcare, diminish the quality of MCED tests, and make them more expensive. In a Thursday statement announcing the decision, Illumina said the judge rejected the FTCs position that the deal would stifle competition. In a press release, Illumina said the administrative law judge "rejected the FTC's position that the deal would adversely affect competition in a putative market for multi-cancer early detection (MCED) tests." The FTCs challenge to the proposed transaction is a marked departure from longstanding antitrust precedent. Photo: MIKE BLAKE/REUTERS. The vote to sue was unanimous. The company is reviewing the Commission's order and intends to appeal the decision. WASHINGTON, Sept. 1, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), today received a favorable decision from the Administrative Law Judge (ALJ) presiding over the Illumina said an administrative law judge had ruled in its favor against the U.S. Federal Trade Commission (FTC)s challenge to the sequencing giants planned $7 billion Illumina was founded in April 1998 by David Walt, Larry Bock, John Stuelpnagel, Anthony Czarnik, and Mark Chee.While working with CW Group, a venture-capital firm, Bock and Stuelpnagel uncovered what would become Illumina's BeadArray technology at Tufts University and negotiated an exclusive license to that technology. NVIDIA/Arm foreshadowed several of the factors in the ECs thinking that would ultimately bring Illumina/Grail to its knees. Courtesy of Grail The European Commission has blocked Illuminas acquisition of early cancer-detection testing company Grail, leaving the companys future uncertain after a U.S. administrative judge ruled last week to let the merger move forward. Illumina has defended its acquisition of Grail, which develops cancer tests. SAN DIEGO, /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) announced today that it has acquired GRAIL, a healthcare company focused on life-saving early detection of multiple WASHINGTON, Sept. 1, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), today received a favorable decision from the Administrative Law Judge (ALJ) presiding over the In a press release, Illumina said the administrative law judge "rejected the FTC's position that the deal would adversely affect competition in a putative market for multi-cancer a total which included the value of shares in Grail then held by Illumina. The firms closed the merger before receiving approval from the FTC and its European Union counterpart, which is still reviewing the transaction.. In the press release, the firms stated that the goal was to accelerate the adoption of NGS-based early multi-cancer detection tests to reach more patients faster. In the decision, the ALJ ruled for Illumina and rejected the FTC's position that the deal would adversely affect competition in a The European Commission has blocked Illuminas acquisition of early cancer-detection testing company Grail, leaving the companys future uncertain after a U.S. administrative judge ruled last week to let the merger move forward..