Illumina (NSDQ:ILMN) is reportedly set to delay the closing of its proposed $8 billion acquisition of Grail amid a challenge by the FTC.
According to a report by Law360, the company has agreed to postpone the planned purchase until as late as September of this year while the FTC attempts to quash the deal.
Grail, founded in 2016, spun out as a standalone company powered by Illumina’s NGS technology for developing data science and machine learning for enabling multiple cancers in early detection tests. It raised approximately $2 billion to support its platform and develop the Galleri multi-cancer screening test, which is set to launch on the market this year.
Illumina did not immediately respond to a request for comment. This story may be updated.