Illumina's oncology screening spinoff, which has a range of corporates among its investors, plans to raise about $1bn prior to an initial public offering.
Grail, the oncology testing technology developer spun off from genomics technology producer Illumina, plans to raise up to $1bn in new funding, Bloomberg has reported, citing people familiar with the matter.
The fundraising is still in the preliminary process but Grail has appointed advisers, the sources said. Reports in February this year suggested it was preparing for a $500m initial public offering in Hong Kong, and the funding would be raised in advance of the flotation.
Founded in 2016, Grail…
