Full Press Release Details
SAN DIEGO , April 12, 2024 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN ), a global leader in DNA sequencing and array-based technologies, today announced it has received approval of its divestment plan for GRAIL from the European Commission (EC).
While this does not mean the method of divestment has been finalized, the company is pleased to reach an agreement with the EC on specific divestment options as it represents an important milestone in the process. Illumina continues to explore divesting GRAIL through either a trade sale or a capital markets transaction, each of which are contemplated by the plan approved today. In the event of a capital markets transaction, Illumina must capitalize GRAIL with two-and-a-half years of funding, which is estimated at approximately $1 billion based on GRAIL's long-range plan.
Illumina looks forward to working with the EC on approval of final terms consistent with the divestment plan. As previously stated, Illumina has a goal of finalizing those terms by the end of the second quarter of 2024.
Cautionary Note on Forward-Looking Statements This release may contain forward-looking statements that involve risks and uncertainties.
Cautionary Note on Statements of Opinion In addition to forward-looking statements, this release contains statements of opinion with which all may not agree.
About Illumina Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a 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 illumina.com and connect with us on X , Facebook , LinkedIn , Instagram , TikTok and YouTube .
Investors: Salli Schwartz 858-291-6421 [email protected]
Media: David McAlpine 347-327-1336 [email protected]
SOURCE Illumina, Inc.