GRAIL, a developer of next-generation blood tests for early cancer detection, withdrew its plans for an initial public offering on Monday. It originally filed in September 2020 with an estimated deal size of $500 million, but announced later that month that it would be acquired by Illumina (Nasdaq: ILMN) for over $7 billion. The acquisition was recently completed.
The Menlo Park, CA-based company was founded in 2015 and had planned to list on the Nasdaq under the symbol GRAL. Morgan Stanley, Goldman Sachs, BofA Securities, Cowen, and Evercore ISI were set to be the joint bookrunners on the deal.
