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GRAIL Announces $390 Million Series D Financing

May 06, 2020•over 5 years ago

Amount Raised

$390 Million

Round Type

series d

Menlo Park

Description

GRAIL, Inc., a healthcare company whose mission is to detect cancer early, when it can be cured, today announced a $390 million Series D financing round. New investors including Public Sector Pension Investment Board (PSP Investments) and Canada Pension Plan Investment Board (CPP Investments), as well as two undisclosed investors, joined existing backers including Illumina, Inc. in this round of funding.

Company Information

Company

Grail

Location

Menlo Park, California, United States

About

GRAIL’s multi-cancer early detection test is designed to detect cancers in early stages, when the chance of survival is higher than if cancer is detected after symptoms appear. Clinical data have shown the ability of this technology to detect more than 50 cancer types with a very low false positive rate of less than one percent. GRAIL’s test was designed to minimize false positives in order to limit associated harms, including patient anxiety and unnecessary diagnostic workups. When a cancer signal is detected, the test has been able to identify where in the body the cancer is located with high accuracy, an important step to guiding diagnostic next steps and care.

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