Illumina, the world’s largest gene sequencing company, faces a record fine from the E.U. for acquiring startup Grail without approval. The $8 billion deal closed in August 2021 despite ongoing EU. and U.S. investigations. A year later, the EU prohibited the merger, citing reduced innovation and choice. The expected $453 million fine, which would be…
Illumina is cutting 5% of its workforce
Illumina (Nasdaq:ILMN) announced that it commenced a headcount reduction totaling approximately 5% of its global workforce. The company said yesterday that it is proactively realigning its core operating expenses in response to the current macroeconomic environment. It seeks to maintain its focus on its innovation roadmap and sustainable long-term growth, according to an SEC filing. Earlier…
Illumina’s new NovaSeq X can sequence 20,000 genomes a year
Illumina (Nasdaq:ILMN) announced last week that it launched its new NovaSeq X series of production-scale sequencers. San Diego-based Illumina said its new sequencers “push the limits of what is possible with genomic medicine.” NovaSeq X and NovaSeq X Plus offer faster, more powerful and more sustainable sequencing. The latter can generate more than 20,000 whole…
Illumina may buy back Grail
Illumina (NSDQ:ILMN) may acquire Grail for more than $8 billion — four years after it spun out the cancer detection startup. That’s according to a Bloomberg report out yesterday, which cited people familiar with the matter. Analysts told Bloomberg that the acquisition would put Illumina — a giant in the DNA sequencing space — in direct…