Biocom California Statement on Illumina’s Proposed Acquisition of GRAIL

SOUTH SAN FRANCISCO, Calif. & LOS ANGELES & SAN DIEGO--(BUSINESS WIRE)--Biocom California, the association representing the life science industry of California, issued the following statement regarding their application to intervene in support of Illumina’s challenge to the European Commission’s jurisdiction over the acquisition of GRAIL. The statement can be attributed to Joe Panetta, Biocom California’s president and CEO:

“The European Court of Justice has granted Biocom California’s application to intervene in support of Illumina’s challenge to the European Commission’s jurisdiction over the acquisition of GRAIL. As the court recognized, Biocom California has a 'direct, existing interest in the outcome' of the case. The EU’s expanded approach to reviewing mergers, if upheld by the court, will make it more difficult for small, new and growing businesses to find investors, due to the unpredictability inherent in the new interpretation. Innovation in the life sciences will suffer as a result. The acquisition of GRAIL will allow Illumina to accelerate the availability and affordability of GRAIL’s multi-cancer early detection test, transforming the landscape of cancer detection on a global scale and ultimately save lives. As a leader and advocate for more than 1,700 life science companies, Biocom California strongly believes enabling this acquisition would ensure the growth and development of our innovation ecosystem, and ultimately improve the lives of patients.”

About Biocom California

Biocom California is the leader and advocate for California’s life science sector. We work on behalf of more than 1,700 members to drive public policy, build an enviable network of industry leaders, create access to capital, introduce cutting-edge STEM education programs and create robust value-driven purchasing programs.

Founded in 1995 in San Diego, Biocom California provides the strongest public voice to research institutions and companies that fuel the local and state-wide economy. Our goal is simple: to help our members produce novel solutions that improve the human condition. In addition to our San Diego headquarters, Biocom California operates core offices in Los Angeles and the San Francisco Bay Area, with satellite offices in Sacramento, Washington, D.C. and Tokyo. Our broad membership benefits apply to biotechnology, pharmaceutical, medical device, genomics and diagnostics companies of all sizes, as well as to research universities and institutes, clinical research organizations, investors and service providers.

For more information on Biocom California, please visit our website at www.biocom.org. Connect with us on LinkedIn, Facebook, and Twitter (@BIOCOMCA).