FOSTER CITY, Calif.–(BUSINESS WIRE)–#biotech–Illumina® Ventures Labs, an early-stage company creation and investment engine with fully equipped genomics labs based in Foster City, CA and Cambridge, UK, is now operational and finalizing agreements with several startup companies. Illumina Ventures Labs is part of Illumina Ventures, the premier genomics and precision health venture firm supporting early-stage companies transforming healthcare and our world. With its extensive sequencing capabilities and state-of-the-art life science technologies from Illumina and Illumina Ventures’ portfolio companies, Illumina Ventures Labs is well positioned to enable early-stage companies to accelerate the time needed to reach their next value inflection point.
Illumina Ventures Labs capitalizes on Illumina Ventures’ deep technical and entrepreneurial expertise to support the development and acceleration of early-stage breakthrough genomics startups from company formation through Series A financings. Labs-based companies will receive direct mentorship as well as connections to other companies within the Illumina Ventures portfolio, which may drive further value creation for all companies. As part of a strategic relationship with Illumina, Inc., Labs-based companies will also gain access to world-renowned subject matter experts in Illumina’s R&D organization. In order to access and fully develop scientific excellence, Illumina Ventures Labs will allow companies to stay in Labs for up to eighteen months and employ virtual and hybrid formats. It is anticipated that, after leaving the Labs, companies will be significantly de-risked and will be attractive investment opportunities for the wider venture capital community.
“We applaud the significant progress made by Illumina Ventures Labs to launch a company creation engine providing early-stage companies access to enabling technologies to reach value creation milestones, and we look forward to continuing to work closely with companies pioneering breakthrough applications in genomics,” said Ashley Van Zeeland, vice president of corporate development at Illumina.
“Illumina Ventures Labs offers a unique mechanism to invest in and build early-stage companies,” said Ron Mazumder, PhD, MBA, Partner at Illumina Ventures. “Our facilities, mentorship, and investment model, based on both cash and in-kind contributions, are uniquely suited to the needs of start-ups whose value proposition is enhanced through substantial genomics and sequencing capabilities.”
Entrepreneurs are encouraged to apply.
About Illumina Ventures Labs
Illumina Ventures Labs provides a unique advantage to accelerate value creation for genomics start-ups, from company formation to Series A financings, via access to capital, sequencing, mentorship, and fully equipped genomics lab capabilities. Illumina Ventures Labs is affiliated with Illumina Ventures, an independently managed, healthcare-focused venture firm in a strategic partnership with Illumina (NASDAQ: ILMN). As an early-stage, value-add investor, Illumina Ventures helps entrepreneurs develop breakthrough science and technologies into market-leading companies to transform healthcare. For more information, visit illuminaventures.com.
Contacts
Valerie Enes, venes@spectrumscience.com
