The startup intends to raise a total of at least $1 billion and possibly up to $1.8 billion when all is said and done for its Series B round to continue its progress toward proving out its early-detection system and said today it is working with Goldman Sachs to seal the deal on a second close. GRAIL, a medical start-up that developed as an offshoot of genome sequencing giant Illumina, has closed a series B funding round of $900m. The company said it had raised the funds from existing investors and new investors, including venture capital firm Kleiner Perkins Caufield & Byers, which led its Series A round. GRAIL had already raised $100m and the start-up is still aiming for a total of at least $1bn, with reports of a $1.8bn target. The initial investment has come from several significant sources, including Arch Venture Partners and Johnson and Johnson, while Illumina has already announced plans to give the company more independence.
GRAIL, a medical start-up that developed as an offshoot of genome sequencing giant Illumina, has closed a series B funding round of $900m. The company said it had raised the funds from existing investors and new investors, including venture capital firm Kleiner Perkins Caufield & Byers, which led its Series A round. GRAIL had already raised $100m and the start-up is still aiming for a total of at least $1bn, with reports of a $1.8bn target. The initial investment has come from several significant sources, including Arch Venture Partners and Johnson and Johnson, while Illumina has already announced plans to give the company more independence.