Cancer detection biotech startup Grail, a likely competitor of Madison-based Exact Sciences, has filed an initial public offering and aims to raise more funding for its blood test, according to a release from the company.
The startup backers include Microsoft co-founder Bill Gates and Amazon CEO Jeff Bezos, who four years ago both invested in a $100 million Series A round. Total funding is now more than $1.9 billion, including a $390 million Series D round in May, even though the company does not yet have revenue or a commercially available product. In the IPO filing, the company stated its multicancer early detection test will commercially launch in 2021 as a laboratory-developed test.
In addition to Exact Sciences, other competitors include Thrive Earlier Detection and Guardant Health.
