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The US Federal Trade Commission's recent challenge raises the question who Illumina can acquire while remaining a quasi-monopolist for sequencing equipment.
Illumina said it plans to "vigorously defend" the deal and oppose the FTC, which previously helped scuttle Illumina's proposed acquisition of Pacific Biosciences.
The hybridization-based test may provide better detection of emerging COVID-19 variants of concern, due to a higher tolerance for probe mismatches than in PCR.
The deal to create a comprehensive genomic profiling test for Illumina's NextSeq 550Dx comes months after the instrument received regulatory approval in China.
Adaptive Cofounder and Chief Scientific Officer Harlan Robins compared the launch of the test to the unveiling of the Tesla Roadster electric sports car.
The immune cell sequencing company beat Wall Street estimates on the top line, but missed on the bottom line for both Q4 and full-year 2020.
BioIQ will offer Fulgent's next-generation sequencing-based coronavirus assay on its diagnostic testing platform.
The firm also provided preliminary revenues of $950 million for Q4 and reinstated guidance of $3.79 billion to $3.88 billion for 2021.
The collaboration builds on an oligonucleotide supply agreement the partners signed in 2019 for Clear Labs' nanopore sequencing-based food safety testing.
The partners will also collaborate on a study, to be peer reviewed, that will evaluate how insurance coverage of WGS affects patient care and healthcare costs.