GH - Guardant resolves lllumina litigation will share cancer research specimens

2023-08-01 17:55:08 ET

Guardant Health ( NASDAQ: GH ) said it has entered into an agreement with Illumina ( NASDAQ: ILMN ) that resolves their pending litigation and extends their commercial relationship.

Under the agreement , the companies will ask the court to dismiss their pending litigation with prejudice, including claims related to intellectual property. The companies have also agreed to a long-term supply and purchase commitment and to share specimens for cancer research.

Guardant, a developer and marketer of cancer detection products, didn't provide any additional details about the agreement.

Last month, Illumina CEO Francis de Souza resigned following a board battle with activist investor Carl Icahn. The company was also fined $475M by EU authoritie s for merging with cancer screening company GRAIL without first obtaining regulatory approval.

In an unusual move, the FTC in April ordered Illumina to divest GRAIL , citing concerns that it would thwart competition in the cancer detection market. Illumina is appealing the ruling.

More on Illumina and Guardant:

Hologic CEO Steve MacMillan says he's not leaving after taking on Illumina chair role

Illumina fined $475M in EU for closing GRAIL acquisition

Illumina, Inc.: Collapsing Margins, Rising Debt, Legal Setbacks, And Downward Momentum

Guardant Health: A Growth Company Expanding Its Product Line Quickly

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