GenoLogics Raises $8 Million Strategic Financing Round Led by Illumina
News Oct 22, 2011
GenoLogics, a leading provider of laboratory information management system (LIMS) software specifically designed for next-generation genomics labs, has announced an $8 million round of strategic financing led by new investor Illumina, Inc., a global leader in next-generation sequencing (NGS) instruments. The financing will be used to accelerate product development for future clinical applications and new desktop sequencing systems, and to expand sales and marketing functions. Illumina Senior Vice President and Chief Commercial Officer Tristan Orpin will also be joining GenoLogics’ board of directors.
“This strategic investment in GenoLogics will benefit our mutual sequencing customers,” said Illumina’s Orpin. “We value the unique data management capabilities GenoLogics brings to our customers and the industry.”
GenoLogics and Illumina entered into a worldwide co-selling agreement for the GenoLogics LIMS earlier this year. In September, GenoLogics released the GenoLogics LIMS preconfigured package for Illumina NGS. The GenoLogics LIMS preconfigured package for Illumina NGS allows labs to move into production more quickly by incorporating de facto standards and best practices for NGS implementations.
“The strategic investment by Illumina illustrates our companies’ collective commitment to helping our customers overcome some of the most challenging barriers to next-generation sequencing adoption, namely data management,” GenoLogics CEO Michael Ball said. “Illumina provides important insights to these challenges and we look forward to working jointly with them as we expand our line of innovative, best-in-class LIMS products for next-generation genomics.”
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