Grail, which seeks to develop liquid biopsies to catch cancer early, has agreed to merge with Hong Kong-based Cirina. The deal will grant Grail an entry into Asian markets. Financial terms were not disclosed.
Grail spun out of Illumina in January, when it announced its goal of raising $1 billion in Series B financing. In March, it bagged $900 million in the financing’s first close, which it said would support large-scale clinical trials involving hundreds of thousands of patients. The company previously raised $100 million in its Series A round, from the likes of Bill Gates and Bezos Expeditions.
Illumina transferred its liquid biopsy assets to Grail in January 2016. While liquid biopsy is already used to predict cancer patients’ drug response and guide their treatment, Grail wants to use it to detect the disease early. The company is focusing on tracking DNA shed by tumors that circulates in the blood.
Cirina, which has R&D teams in Hong Kong and San Francisco, shares Grail’s mission. The company was cofounded by Dennis Lo, the first scientist to learn of the presence of fetal DNA in a mother’s blood plasma. Lo’s research includes using liquid biopsy to detect certain cancers.
“Dennis Lo is one of the pre-eminent scientists in the field of plasma nucleic acids and genomics,” said Grail CEO Jeff Huber, in the statement.
“By combining our scientific expertise and resources, we will greatly enhance our ability to achieve our goal of reducing global cancer mortality through the early detection of cancer,” he said.
The merger will allow Grail to develop and, if successful, commercialize liquid biopsy tests for cancer in Asian and Western markets, according to the statement.
Under the deal, Lo will join Grail’s scientific advisory board, while Cirina CEO Maneesh Jain, will also join the Grail team. Cirina will operate as a subsidiary of Grail, according to the statement.
By Amirah Al Idrus
Source: Fierce Biotech
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
