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Grail Raises $125M in Equity Financing Offering

NEW YORK – Grail has raised $125 million out of a planned $250 million equity financing offering, according to a recently filed Form D notice with the US Securities and Exchange Commission.

Through a spokesperson, the Menlo Park, California-based firm declined to comment on the funding. 

In May 2018, Grail raised $300 million a Series C financing round. It was launched in 2016 by Illumina with $100 million in financing, and in early 2017 it attracted another $900 million in a Series B round. 

Grail also appointed Gautam Kollu as its chief commercial officer earlier this week. He previously served as VP of global market development at Illumina. 

The company is conducting its Circulating Cell-free Genome Atlas study of its methylation-based approach to early cancer detection. This past June, a company executive said that based on its case-control analyses of data from the study, Grail expects to start returning results to clinical trial patients in 2020.