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Guardant Health Response to Frivolous and Retaliatory Lawsuit Filed by Illumina
Rhea-AI Impact
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Rhea-AI Summary
Guardant Health (Nasdaq: GH) responded to a lawsuit from Illumina challenging its ownership of intellectual property related to blood tests. Guardant claims the lawsuit is an attempt to suppress competition, following its concerns about the antitrust implications of Illumina's acquisition of Grail. Despite legal challenges, Guardant remains committed to its mission of developing cancer screening tests. The company maintains that their long-term supply agreement with Illumina is intact and that they will vigorously defend their intellectual property rights.
Positive
Guardant Health remains committed to launching its blood test for early colorectal cancer screening.
The long-term supply agreement with Illumina is still in effect, ensuring continuity in operations.
Negative
Illumina's lawsuit may divert focus and resources from Guardant Health's core operations.
The lawsuit could create uncertainty in the market, potentially impacting investor confidence.
Lawsuit is Seen as an Attempt to Stifle Competition and Retaliate Against Guardant Health for Registering Concerns About the Antitrust Implications of Illumina’s Acquisition of Grail
REDWOOD CITY, Calif.--(BUSINESS WIRE)--
Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, today provided the following statement regarding a lawsuit filed by Illumina that seeks to challenge Guardant Health’s ownership and authorship of a portion of its intellectual property and to suppress competition in the market.
Commenting on the lawsuit, John Saia, the company’s SVP, General Counsel and Corporate Secretary, said: “At Guardant Health, our mission for the last 10 years has been to develop groundbreaking blood tests that improve cancer care and save patients’ lives. Nearly a decade after these patents were filed, Illumina’s lawsuit frivolously challenges our ownership and authorship of our intellectual property, which is the backbone of our vital work. We believe Illumina is using the courts to retaliate against us for registering concerns about the antitrust implications of Illumina’s acquisition of Grail – another provider of blood-based cancer tests – and in an attempt to slow us down in the marketplace as we get ready to launch our blood test to screen for early signs of colorectal cancer. Despite these efforts, our long-term supply agreement with Illumina remains in force and our work for patients will not be interrupted. However, we cannot stand by and allow unfair practices in the marketplace or false claims to be made about our intellectual property, which we will vigorously defend. The stakes are too high for the cancer patients who rely on our important work.”
ABOUT GUARDANT HEALTH
Guardant Health is a leading precision oncology company focused on helping conquer cancer globally through use of its proprietary tests, vast data sets and advanced analytics. The Guardant Health oncology platform leverages capabilities to drive commercial adoption, improve patient clinical outcomes and lower healthcare costs across all stages of the cancer care continuum. Guardant Health has commercially launched Guardant360®, Guardant360 CDx, Guardant360 TissueNext™, Guardant360 Response™, and GuardantOMNI® tests for advanced stage cancer patients, and Guardant Reveal™ for early-stage cancer patients. These tests fuel development of its screening program, which aims to address the needs of asymptomatic individuals eligible for cancer screening.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding the potential utilities, values, benefits and advantages of Guardant Health’s liquid biopsy tests or assays, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions, and actual outcomes and results could differ materially from these statements due to a number of factors. These and additional risks and uncertainties that could affect Guardant Health’s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” and elsewhere in its Annual Report on Form 10-K for the year ended December 31, 2021, and any current and periodic reports filed with the Securities and Exchange Commission thereafter. The forward-looking statements in this press release are based on information available to Guardant Health as of the date hereof, and Guardant Health disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Guardant Health’s views as of any date subsequent to the date of this press release.
