GRAIL is focused on developing and scaling innovative cancer screening technology designed to detect cancer at its earliest stages, when it is most treatable. This strategic move allows GRAIL to advance its mission and expand its impact in the healthcare industry.
“With this spin-off, GRAIL is taking another important step in our journey to shift the paradigm in early cancer detection,” said Bob Ragusa, Chief Executive Officer at GRAIL. “There is nothing acceptable about the status quo in cancer screening today. At GRAIL, we have an unprecedented opportunity to establish a new standard of care through Galleri – our clinically-validated, commercially available multi-cancer early detection test, which screens for many of the deadliest cancers, including those with no recommended screening tests today.”
He continued: “As a publicly traded company, we will continue our important work to address one of society’s biggest healthcare challenges, and to establish and maintain a market leading position in cancer detection. We have built a strong foundation and track record of innovation, which we will leverage to deliver value for patients, healthcare providers, healthcare systems, shareholders and our employees.”
GRAIL’s strengths include:
- Galleri is setting the standard for multi-cancer early detection (MCED) when added to recommended single cancer screening tests: Galleri is a leading clinically validated, commercially available MCED test that enables screening for some of the most deadly types of cancer, such as pancreatic, esophageal, ovarian, liver and others.
- Our established commercial leadership is driving the development of a significant market: As of March 31, 2024, we have sold more than 180,000 commercial tests and established over 100 commercial partnerships.
- Our clinical program includes population scale clinical studies and real-world experience, with more than 385,000 participants across eight clinical studies.
- Our highly-differentiated methylation platform enables product opportunities across the cancer care continuum, including symptomatic detection and precision oncology.
- Our highly experienced and multidisciplinary team has enabled us to make significant progress towards improving cancer care.
- Our significant investments in scientific discovery, clinical evidence, scaling our laboratory operations, assay enhancements and commercial execution.
GRAIL’s core strategy and catalyst opportunities for long-term growth include:
- Establishing Galleri as the population MCED standard and establishing commercial leadership in large global markets.
- Expanding access to our products by pursuing FDA approval and reimbursement and coverage from Medicare and commercial payors.
- Defining, leading and expanding MCED adoption.
- Driving cutting edge science and technology to continuously improve existing products and develop new products.
- Leveraging our existing infrastructure to enable and scale our growing business.
As part of the spin-off, Illumina has provided GRAIL with funding to pursue GRAIL’s long-range plan. Illumina will maintain a minority share of 14.5% in GRAIL.
“We would like to thank Illumina for their support and commitment to advancing multi-cancer early detection, and we look forward to the continued relationship,” added Ragusa.
