McDonald Hopkins represents GRAIL in $390M Series D financing
(CHICAGO) - McDonald Hopkins represented GRAIL, a healthcare company whose mission is to detect cancer early, when it can be cured, in its $390 million Series D financing.
New investors Public Sector Pension Investment Board (PSP Investments) and Canada Pension Plan Investment Board (CPP Investments) joined the round, as well as two undisclosed investors, along with several existing investors including Illumina, Inc. This brings GRAIL’s total funding to $1.9 billion in four rounds of equity financing to pursue reducing cancer mortality worldwide through multi-cancer early detection.
GRAIL’s multi-cancer early detection test is designed to detect cancers in early stages, when the chance of survival is higher than if cancer is detected after symptoms appear. Clinical data have shown the ability of this technology to detect more than 50 cancer types with a very low false positive rate of less than one percent. GRAIL plans to use the new capital to support continued development and commercialization of GRAIL’s multi-cancer early detection blood test.
More information about the financing can be obtained from the company’s announcement.
The McDonald Hopkins transaction team was led by corporate member Jordan Koss and associate Matthew McElwee, with support from executive compensation member Benjamin Panter, tax member Adam Grais, intellectual property member Todd Benni, and senior paralegal Monica Moreno.
