Significant Development in the War on Cancer
SAN DIEGO–(BUSINESS WIRE)–Jan. 10, 2016– Illumina, Inc. (NASDAQ:ILMN) today announced GRAIL, a new company formed to enable cancer screening from a simple blood test. Powered by Illumina sequencing technology, GRAIL will develop a pan-cancer screening test by directly measuring circulating nucleic acids in blood.
Detecting cancer at the earliest stages dramatically increases long-term survival, hence the successful development of a pan-cancer screening test for asymptomatic individuals would make the first major dent in global cancer mortality.
GRAIL’s unique structure enables it to take on this grand challenge. GRAIL has been formed as a separate company, majority owned by Illumina. GRAIL is initially funded by over $100 million in Series A financing from Illumina and ARCH Venture Partners, with participating investments from Bezos Expeditions, Bill Gates and Sutter Hill Ventures. GRAIL’s unique relationship with Illumina provides the ability to economically sequence at the high depths necessary to create a screening test with the required sensitivity and a hoped for level of specificity never before achievable for cancer screening.
“We hope today is a turning point in the war on cancer,” said Jay Flatley, Illumina Chief Executive Officer and Chairman of the Board of GRAIL. “By enabling the early detection of cancer in asymptomatic individuals through a simple blood screen, we aim to massively decrease cancer mortality by detecting the disease at a curable stage.”
“The holy grail in oncology has been the search for biomarkers that could reliably signal the presence of cancer at an early stage,” said Dr. Richard Klausner, formerly Illumina Chief Medical Officer and NCI Director, and a Director of GRAIL. “Illumina’s sequencing technology now allows the detection of circulating nucleic acids originating in the cancer cells themselves, a superior approach that provides a direct rather than surrogate measurement.”
“GRAIL’s rigorous, science-based approach with leading medical and policy advisors worldwide is unprecedented in the fight to defeat cancer,” said Robert Nelsen, Managing Director and Co-Founder of ARCH Venture Partners and a Director of GRAIL.
GRAIL has secured the counsel of a world-class set of industry and cancer experts for the company’s advisory board, including Dr. Richard Klausner; Dr. Jose Baselga, Physician In Chief at Memorial Sloan Kettering and President of the American Association of Cancer Research; Dr. Brian Druker, Director, OHSU Knight Cancer Institute; Mostafa Ronaghi, Chief Technology Officer at Illumina; Don Berry, Professor at MD Anderson Cancer Center; Timothy Church, Professor at the University of Minnesota School of Public Health and Charles Swanton, Group Leader at the Francis Crick Institute. The company will initially have a five-member Board of Directors, including Jay Flatley, William Rastetter (Chairman of Illumina), Dr. Richard Klausner, Robert Nelsen, and the CEO. The company is actively recruiting a CEO.
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as the global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture and other emerging segments. To learn more, visit www.illumina.com and follow @illumina.
About GRAIL – Learn more at Grailbio.com.
Forward-Looking Statement for Illumina
This release contains forward looking statements that involve risks and uncertainties, such as Illumina’s expectations for the performance and utility of products to be developed by GRAIL. Important factors that could cause actual results to differ materially from those in any forward-looking statements include challenges inherent in developing, manufacturing, and launching new products and services and the other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We do not intend to update any forward-looking statements after the date of this release.
Source: Illumina, Inc.