Illumina Accelerator Secures $40 Million Boost Capital to Back New Graduates
News Feb 27, 2015
Illumina, Inc. has announced that its new Illumina Accelerator Boost Capital has secured an initial capital commitment of $40 million from Viking Global Investors, a privately owned, global investment firm.
Capital commitments made to Illumina Accelerator Boost Capital will be used to fund investments in promising genomic startups that graduate from Illumina Accelerator.
“We are proud to partner with Viking Global Investors,” said Mostafa Ronaghi, Ph.D., Illumina’s senior vice president and chief technology officer. “As we continue to support innovation and entrepreneurship, we believe this committed capital will further boost the genomics innovation ecosystem.”
Illumina Accelerator Boost Capital will provide dollar-for-dollar match funding to every Illumina Accelerator graduate company that raises any amount between $1 million and $5 million in new capital during the funding cycle.
“This capital commitment will be instrumental in driving value for our startups as they advance breakthrough applications in genomics,” said Amanda Cashin, Ph.D., who leads Illumina Accelerator.
Illumina Accelerator is the world’s first business accelerator focused solely on creating an innovation ecosystem for the genomics industry. It provides select startups with seed investment, business guidance, access to Illumina’s sequencing systems and reagents, and fully operational lab space in the San Francisco Bay Area during each six-month funding cycle.
Applications for Illumina Accelerator’s Spring 2015 funding cycle are due by March 9, 2015.
Researchers Discover Mutation That Appears to Protect Against Multiple Aspects of Biological AgingNews
The first genetic mutation that appears to protect against multiple aspects of biological aging in humans has been discovered in an extended family of Old Order Amish living in the vicinity of Berne, Indiana, report Northwestern Medicine scientists.READ MORE
Defects in Cell’s ‘Waste Disposal System’ Linked to Parkinson’sNews
An international study has shed new light on the genetic factors associated with Parkinson’s disease, pointing at a group of lysosomal storage disorder genes as potential major contributors to the onset and progression of this common neurodegenerative disorder.READ MORE
Mouse Model Demonstrates Potential of New Autism DrugNews
Scientists have performed a successful test of a possible new drug in a mouse model of an autism disorder. The candidate drug, largely corrected electrical, behavioral and brain abnormalities in the mice.READ MORE