Illumina spinout Grail has raised a first tranche of its series B round, thanks to investors including Johnson & Johnson, as it targets a second close of up to $1.8bn.
Grail, a US-based oncology diagnostics spinout of genomics technology producer Illumina, yesterday achieved a first close of its series B round at $900m with the backing of several corporates.
The round was led by VC firm Arch Venture Partners and included Johnson & Johnson Innovation, through its subsidiary Johnson & Johnson UK Treasury, an investment vehicle of pharmaceutical firm Johnson & Johnson.
Pharmaceutical firms Bristol-Myers Squibb, Celgene and Merck & Co, medical technology producer Varian Medical Systems, pharmaceuticals supplier McKesson’s…
