Article: Illumina Stock Sale Gets $83.6M For Diagnostics Work And More.

West Coast Editor

Illumina Inc. pulled down net proceeds of about $83.6 million through a public offering of 3.5 million shares of common stock at $25.50 per share, and aims to use the money partly to boost diagnostics work.

"You can see the direction we're going by the DeCode deal we announced [last] Monday," said Jay Flatley, president and CEO of San Diego-based Illumina. With DeCode Genetics, of Reykjavik, Iceland, Illumina plans to co-develop and commercialize DNA-based diagnostic tests in several major disease areas, including heart attack, diabetes and breast cancer.

The deal will use Illumina's platform for high-multiplex ...

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