FLG client GRAIL, Inc., a life sciences company whose mission is to detect cancer early when it can be cured, today announced that it has raised over $900 million through the first close of its previously announced Series B financing which was led by ARCH Venture Partners and includes Johnson & Johnson Innovation as the largest investor in the financing.
“We engaged FLG Partners when we were in the final stages of negotiations to be acquired by a major Japanese company and suddenly lost our senior financial executive to a medical leave. Jim Pardee, the FLG partner we selected, quickly developed a financial forecasting model that allowed the senior team to dynamically analyze various revenue and expense alternatives, and provide the financial forecasts required for the closing process. Jim assumed leadership of the financial group, made some key staffing improvements, and led the group through a full mid-month audit (required by the transaction) as well as the year-end audit. Jim also led the financial integration with our new parent, including new reporting requirements, additional audit activities, and critical calculations related to determining the final purchase price amount. His leadership was instrumental in our successful close of this deal for SiTime.”