Illumina board agrees to spin off Grail, as divestment plans proceed

Illumina’s board of directors has approved a spin-off of its cancer test subsidiary, Grail, ending a four-year, $8 billion saga. Grail will become an independent company on June 24, with Illumina retaining a 14.5% stake. This is the second time Grail has been spun off by Illumina, as it initially started as a unit within the company in 2015. Illumina then reacquired Grail for $8 billion in 2020. The spin-off marks the final chapter in this long process, signaling the independence of Grail in the market.

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