Illumina Inc. has officially announced the spin-off of its cancer test subsidiary, Grail. The board of directors approved the spin-off, marking the end of a nearly four-year-long saga. As part of the divestment, Illumina will issue Grail shares to its investors while retaining a 14.5 percent stake in the company. Additionally, the board declared a spin-off dividend of Grail shares. The spin-off is set to be completed in June.