Illumina's new business accelerator, Illumina Accelerator Boost Capital, got a $40 million cash infusion from hedge fund Viking Global Investors. Illumina Accelerator will use the cash to fund investments in promising genomic startups, spurring innovation and providing dollar-for-dollar matching funds for every graduate company that raises between $1 million and $5 million during the funding cycle.
Illumina has revealed a new fund structure to back startup graduates from its accelerator that launched early last year. Dubbed Illumina Accelerator Boost Capital, the fund has secured an initial $40 million capital commitment from Viking Global Investors.
A U.K. project designed to analyze up to 100,000 entire human genomes is set to begin tomorrow with a similar project in the U.S. focused on more than 1 million people expected to be announced later this week.
Illumina boosted its revenue 32% in 2014, riding high off the continued success of its next-generation sequencing systems and ramping up expectations for the coming year.
10X Genomics has exited stealth mode with $80 million in VC funding and a plan to solve a significant sequencing problem without going head to head with Illumina. The Pleasanton, CA-based startup is set to unveil an add-on for Illumina sequencers that improves their ability to map long reads of DNA.
SAN FRANCISCO--More than a few presentations at the JP Morgan Healthcare conference this week sought to address the future of next-generation sequencing, particularly with the huge waves of related news.
Illumina has been on a diagnostics roll as of late, inking deals and posting promising numbers for its next-generation sequencing technology. Now, the company is poised for more growth in the coming year with plans for a new California facility.
NHS England has selected the 11 centers that will form the backbone of the 100,000 Genomes Project. Each of the centers will begin recruiting patients with cancer and rare diseases on Feb. 2 and send the samples they gather to Illumina for sequencing and analysis.
Illumina is collaborating with Australia's Victorian Clinical Genetics Services, a subsidiary of Murdoch Childrens Research Institute that provides genetic testing services. The organization wants to use the San Diego company's technology to roll out a prenatal testing service.
Illumina and Sequenom settled the score in the companies' ongoing patent feud, agreeing to resolve all pending infringement claims and pool their resources to further develop noninvasive prenatal tests.