SAN DIEGO (dpa-AFX) - Illumina Inc. (ILMN) Monday announced the completion of the spin-off of GRAIL.
The milestone follows the company's previously announced plans to divest GRAIL, and GRAIL is now a public and independent company. GRAIL will begin regular way trading on Nasdaq on Tuesday, June 25 under the ticker symbol 'GRAL.'
'With the completion of the spin-off of GRAIL, we have achieved our goal of divesting GRAIL in a manner that allows its breakthrough technology to continue benefiting patients,' said Jacob Thaysen, CEO of Illumina. 'Illumina will maintain a minority share of 14.5% in the company. GRAIL plays a critical role in the fight against cancer, and while the company is no longer part of Illumina, we remain confident in its future and will continue to support GRAIL with our sequencing technology, end-to-end workflows, and suite of services.'
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