Illumina Inc Stock Price, News & Analysis

Illumina (ILMN) announced its participation in Time Boost Capital I LP, a £30 million venture fund designed to support genomics startups graduating from Illumina Accelerator Cambridge. This investment aims to enhance breakthroughs in human health and includes commitments from LifeArc and Illumina Ventures. Since its launch in July 2020, the Accelerator has aided 13 startups, with over half founded by women. The fund will offer match funding for startups securing £500,000 to £4 million in new capital. Applications for the next funding cycle are due by October 1, 2022.

Illumina (NASDAQ: ILMN) has launched a research test in partnership with Merck to enhance cancer diagnostics through the TruSight™ Oncology 500 HRD assay. This test utilizes advanced genomic profiling to assess homologous recombination deficiency (HRD) in tumors, critical for understanding cancers like ovarian and breast. The assay enables labs to analyze over 500 genes, offering comprehensive insights with a single sample. It will be available globally, except in the US and Japan, starting August 2022. The collaboration aims to advance clinical research and expand access to cancer trials.

Fountain Health Insurance has partnered with GRAIL to provide 100% coverage for the Galleri multi-cancer early detection test as part of annual wellness benefits. This innovative blood test can detect signals from over 50 types of cancers, helping ensure early diagnosis and potentially better outcomes. Fountain Health aims to enhance employee health, emphasizing the importance of proactive care. The partnership reflects a commitment to improving health outcomes and accessibility of vital cancer screening, which is crucial as cancer remains a leading cause of death in the U.S.

Illumina (NASDAQ: ILMN) has announced that Joydeep Goswami will serve as interim Chief Financial Officer following the departure of Sam Samad on July 8, 2022. Goswami, who has extensive experience in senior management roles, will oversee CFO responsibilities while the company searches for a permanent replacement. Illumina's CEO praised Samad for his contributions during his five-year tenure. The company continues to focus on innovation in DNA sequencing and array-based technologies aimed at enhancing human health.

Illumina (NASDAQ: ILMN) announced new product developments at the AGBT General Meeting, held from June 6–9 in Orlando, Florida. Key highlights include the introduction of 2x300 base pair read lengths on NextSeq 1000 and 2000 systems, aimed at enhancing applications like metagenomics. Data showcasing the Infinity technology will be presented, emphasizing its performance in genomic mapping and structural variants. Illumina also plans sessions on genomics innovation and better informatics solutions, reflecting its commitment to driving advancements in personalized medicine.

GRAIL announced the presentation of the NHS-Galleri trial study design at the 2022 ASCO Annual Meeting. This randomized trial aims to evaluate the Galleri multi-cancer early detection test alongside standard screenings for early cancer diagnosis. Enrolling 140,000 healthy volunteers in the UK, the trial seeks to determine if the test can diagnose stage 3 and 4 cancers earlier, potentially improving survival rates. Initial results are expected in 2024, with further rollout planned if successful.

Ochsner Health announces a partnership with GRAIL to offer the Galleri multi-cancer early detection test in Louisiana. This initiative aims to enhance cancer detection rates among underserved populations through a three-year Health Equity Demonstration Program. The program will identify educational gaps and improve awareness on early cancer detection. Ochsner will also enroll participants in the PATHFINDER 2 study, targeting 20,000 individuals to evaluate the test's effectiveness. Galleri can detect signals from over 50 cancer types, with a remarkable accuracy rate of 89% in pinpointing cancer origin.

Illumina, a leader in DNA sequencing, announced the acceptance of seven oncology research abstracts for the ASCO annual meeting from June 3-7, 2022, in Chicago. The focus is on comprehensive genomic profiling (CGP) which enhances patient care by matching patients with effective therapies. Key data shows CGP identified actionable biomarkers at 45% compared to 19% for small panels. Collaborations with various health systems aim to advance cancer diagnostics, including a notable partnership with Bayer for a companion diagnostic for NTRK fusion cancer. These findings underscore the potential of CGP in personalized cancer care.

AstraZeneca has partnered with GRAIL to develop companion diagnostic (CDx) assays that will help identify patients with high-risk, early-stage cancer. This collaboration aims to enhance clinical trial recruitment and provide critical information for early-stage cancer treatment. GRAIL's methylation platform will be used in these efforts, with plans for regulatory approvals for liquid biopsy diagnostics. The partnership reflects a commitment to improving patient outcomes in oncology by leveraging innovative blood-based detections.