A startup that wants to create a simple blood test for every form of cancer is trying to raise at least $1 billion

A cancer startup that wants to build a blood test to screen for cancer is seeking to raise at least $1 billion.

Grail was created in January 2016 by gene-sequencing giant Illumina, funded by a group of Silicon Valley investors including Jeff Bezos, Bill Gates, and Google Ventures, raising $100 million at the time.

Now, it’s looking for at least $1 billion for its Series B round. The company said in a release that it’s “received indications of interest to invest.” The news comes ahead of a major healthcare investor conference in San Francisco, so it’s possible the company is looking to gauge investor interest heading into the conference.

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