EU antitrust regulators will examine Illumina’s proposed US$7.1 billion acquisition of cancer test maker, the European Commission announced on Tuesday, April 20, following a request from six countries on competition concerns.
US life sciences company Illumina announced last September that it would acquire Grail – which it previously owned before spinning it off as a separate business four years ago – by buying out investors including Amazon founder Jeff Bezos. Illumina had remained the company’s largest shareholder.
While the deal does not reach the turnover threshold that would require Illumina to seek EU approval, France asked the EU competition enforcer to vet the deal under new rules announced last month targeting biotech and tech start-up deals, the Commission stated.
Belgium, Greece, and the Netherlands, as well as non-EU members Norway and Iceland, backed France’s request. Grail makes a non-invasive, early detection biopsy test to screen for many kinds of cancers using DNA sequencing.
“The combined entity could restrict access to or increase prices of next-generation sequencers and reagents to the detriment of Grail’s rivals active in genomic cancer tests following the transaction,” the Commission said in a statement.
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