In January of this year, Illumina (NASDAQ:ILMN) announced plans to form a new venture called GRAIL. This company, of which Illumina would own 52%, will attempt to create a single blood test for the early detection of all major types of cancer through the use of circulating tumor DNA (ctDNA) testing and deep sequencing technology. This venture has attracted numerous backers, with notable investors Bill Gates and Jeff Bezos. While estimates vary, should this blood diagnostic work as planned, Illumina’s management has guided toward a bull case total addressable market of $100 billion to $200 billion.
