San Diego-based Illumina, on Thursday, was awarded a favorable decision from the Administrative Law Judge (ALJ) presiding over the Federal Trade Commission’s (FTC) challenge of the company’s GRAIL acquisition.
In the decision, the ALJ ruled for Illumina and rejected the FTC’s position that the $7.1 billion deal would adversely affect competition in the existing market for multi-cancer early detection (MCED) tests.
“Reuniting Illumina and GRAIL will transform the detection and treatment of cancer by facilitating widespread, affordable access to GRAIL’s life-saving Galleri test. This decision is a step toward making that vision a reality,” said Francis deSouza, CEO of Illumina.
“Too many of us have experienced or witnessed the devastating effects of cancer when it is diagnosed too late,” deSouza also said. “Our mission in bringing Illumina and GRAIL back together is to save many thousands of lives by working to ensure that everyone can find and afford a Galleri test.”
“As we’ve stated from the outset, this transaction is procompetitive, will advance innovation, lower healthcare costs and save lives. We are pleased that, after considering the evidence, the ALJ has reached the same conclusion,” said Charles Dadswell, general counsel of Illumina.
GRAIL was founded by Illumina seven years ago with the goal of developing an early screening test for multiple types of cancer.
The transaction will reunite Illumina and GRAIL at a critical time, Illumina officials said in a release announcing the ALJ decision. “GRAIL needs Illumina’s scale and expertise to overcome significant hurdles to the widespread adoption of Galleri, including obtaining regulatory approval and insurance reimbursement as well as scaling production and distribution of the test.”