GenoLogics has some new financial horsepower to move ahead with its lab software for next-gen DNA sequencing outfits. The Victoria, British Columbia-based company found support for an $8 million round led by strategic investor Illumina ($ILMN), the world's top supplier of sequencing machines.
For Illumina, the investment aids the company whose products help scientists make use of data from the San Diego-based firm's sequencing instruments. GenoLogics plans to funnel dollars from the deal into development of software for new desktop sequencing systems and for clinical customers. With the new financing, the software firm will also be expanding sales and marketing efforts with the advice of Tristan Orpin, Illumina's senior vice president and chief commercial officer, who is stepping in as a member of GenoLogics' board of directors.
Illumina and GenoLogics had joined forces before this deal. Illumina agreed to start selling GenoLogics' laboratory information management software (LIMS) early this year, after naming the company a key provider of the software to support its next-gen sequencing products last year, Bio-IT World reported. The ongoing relationship follows a trend of sequencing and informatics integrations, which have picked up in recent years as labs sought increased IT support for growing amounts of genomic data from faster and cheaper sequencing systems.
"This strategic investment in GenoLogics will benefit our mutual sequencing customers," Illumina's Orpin said in a statement. "We value the unique data management capabilities GenoLogics brings to our customers and the industry."
Genologics, which has designed its LIMS software to manage data from a variety of biological experiments and instruments, has to date secured at least $26.5 million from a variety of investors, including GrowthWorks Capital, Illumina, OVP Venture Partners and Yaletown Venture Partners, Xconomy reported.