First-of-its-kind Incubator will support companies poised to deliver breakthrough applications in genomics and multiomics
SAN DIEGO, Nov. 17, 2021
SAN DIEGO, Nov. 17, 2021 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN), and Sequoia Capital China, a leading investment firm, today jointly announced the selection of the first two startup companies joining the Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina. Located in Zhangjiang Cell Industrial Park, Shanghai, the incubator will serve as a company creation engine focused on supporting life sciences startup companies who are poised to deliver breakthrough applications in genomics and multiomics.
"The launch of this startup incubator demonstrates Illumina's commitment to supporting the development of China's genomics industry and is a vital part of the company's long-term localization strategy," said Li Qing, Vice President and General Manager of Greater China at Illumina. "By leveraging this first-of-its-kind platform, and together with Sequoia Capital China, we will continue to grow China's biotechnology innovation and business presence, as well as foster groundbreaking discoveries with the aim to help millions of patients in China and around the world."
The startups selected for the inaugural funding cycle are:
Mobidrop Biotechnology, a medical device and research tools company developing cutting-edge, single-cell sequencing microfluidic technologies for molecular diagnostics applications.
Sequanta Technologies, a multiomics company committed to building DNA, RNA, epitome, and proteomics technology platforms for research and clinical applications.
"Paying close attention to healthcare sector since our inception, Sequoia Capital China has built up years of experience in this field and developed a systematic portfolio," said Yibo Cao, Managing Director of Sequoia Capital China. "Through the Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina, we look forward to working together with Illumina to translate outstanding scientific research achievements into industrial applications, to fuel the momentum of entrepreneurship and innovations in China."
Startups will be selected twice a year to join the incubator for a six-month funding cycle. Sequoia Capital China will provide them with access to investment and business guidance, and they will work with Illumina sequencing systems and reagents in a fully operational lab space, accessing Illumina's genomics and business expertise.
"The launch of this incubator marks a new chapter for genomics startups and entrepreneurs in China," said Amanda Cashin, Ph.D., co-founder and Global Head of Illumina For Startups. "Together with Sequoia Capital China and leading genomics entrepreneurs, we look forward to unlocking the power of the genome to improve human health in China and beyond."
Applications for the second funding cycle are open until March 1, 2022. To learn more, please visit the application website.
About Illumina For Startups
Illumina for Startups is focused solely on creating an innovation ecosystem for the genomics industry by partnering with leading venture capital investors and entrepreneurs to create, launch, and grow genomics startups. Illumina for Startups initiatives include Illumina Accelerator, founded in 2014, and Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina, launched in 2021. Illumina Accelerator is a company creation engine co-located with Illumina research and development sites in San Francisco Bay Area and Cambridge, UK. Illumina Accelerator has invested in 61 genomics startups across the globe, which have collectively raised over $1 billion in venture capital funding. For more information, please visit our website.
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as the global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture and other emerging segments. To learn more, visit www.illumina.com and connect with us on Twitter, Facebook, LinkedIn, Instagram, and YouTube.
About Sequoia Capital China
Sequoia China helps daring founders build legendary companies. In partnering with Sequoia, companies benefit from our unmatched community and the lessons we've learned over the years. As "The Entrepreneurs Behind The Entrepreneurs", Sequoia China focuses on three sectors: TMT, healthcare and consumer/service. Over the past 16 years we've had the privilege of working with more than 900 companies in China.
Dr. Karen Birmingham
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SOURCE Illumina, Inc.