US Giant Illumina to Acquire BC-based GenoLogics Life Sciences Software Inc.Friday, August 7, 2015
Some of the GenoLogics developers at a recent SCRUM meeting (Photo courtesy of GenoLogics)
Illumina Signs Agreement to Acquire GenoLogics, Leader in Genomics Laboratory Information Management System Market
Vancouver, BC, August 7, 2015--(T-Net)--Illumina, Inc. (NASDAQ:ILMN) today announced it has signed a definitive agreement to acquire GenoLogics Life Sciences Software, a developer of industry-leading laboratory information management systems (LIMS) for life sciences organizations.
Illumina is a leading developer, manufacturer, and marketer of life science tools and integrated systems for large-scale analysis of genetic variation and function. The company has over 3,750 employees globally, and reported 2014 revenue of $1.86 Billion USD.
The acquisition is intended to strengthen Illumina's portfolio of genetic analysis solutions, according to the company.
GenoLogics company offices in Victoria, BC
"The acquisition of GenoLogics demonstrates Illumina's commitment to drive the adoption of sequencing in new markets and improve the genomic information workflow," said Francis deSouza, President of Illumina. "Adding GenoLogics' products to Illumina's portfolio is another example of our continued commitment to bring innovative sample-to-answer solutions to research and clinical labs.”
GenoLogics was formed in 2002 with the simple goal of building a flexible and adaptable Lab Information Management System (LIMS) for the burgeoning proteomics industry.
The company subsequently expanded its LIMS platform to support the many genomics technologies available in the market and introduced next-generation sequencing (NGS) technology and desktop sequencing systems.
The company's producst include Clarity LIMS.
The company raised over $17 million of financing in 6 rounds according to sources, including an $8 million Series D round most recently in late 2011 / early 2102 from investors including GrowthWorks Capital, Illumina, OVP Venture Partners and Yaletown Venture Partners.
In 2014, GenoLogics received Frost & Sullivan's Customer Service Award for Next Generation Sequencing (NGS) Informatics.
Adopted by over 120 genomic labs worldwide, GenoLogics' Clarity LIMS™ software enables lab efficiencies and improved sample throughput with increased accuracy, fast turnaround, sample traceability, and preconfigured instrument integrations. GenoLogics has a number of current partnerships with Illumina, including the recently launched Clarity LIMS X, an edition of its industry-leading laboratory informatics platform that is optimized for use with Illumina SeqLab to address population-scale genomics workflows.
Michael Ball, CEO of GenoLogics
“We are excited to join Illumina and carry on the innovative spirit that GenoLogics Life Sciences Software has been known for,” said Michael Ball, CEO of GenoLogics. “Illumina and GenoLogics have had a longstanding partnership and this acquisition will enable us to widen our distribution, accelerate our product development, and provide even greater support to the Clarity LIMS community.”
GenoLogics will become part of the Illumina Enterprise Informatics business under the leadership of Sanjay Chikarmane, Senior Vice President and General Manager of Enterprise Informatics.
The impact of this transaction was contemplated in the updated 2015 financial guidance Illumina provided on July 21, 2015. The acquisition is expected to close by the end of August.
The amount of the acquisition and other details of the deal have not been disclosed, but company officials have reported to T-Net that no staff were terminated as a result of the acquisition, and the company will continue to work out of their existing offices in the Vancouver Island Technology Park.
Some of the Genologics staff in Victoria, BC office (for Frost & Sullivan Award) in 2014
GenoLogics is a life sciences software company, focused on building lab information management software for genomics, next-gen sequencing and mass spec labs. Its new product, Clarity LIMS, was built specifically for clinical and research labs that provide next-gen sequencing and genomics services.
Clarity LIMS was built specifically to meet the needs of genomics/NGS and mass spec laboratories, providing:
• end-to-end workflow tracking and integration
• time-saving automation for complex and mundane tasks
• production ready workflows
• management reporting functionality
• support for regulatory compliance
• role-based interfaces designed to match the needs of individuals in the lab
Clarity LIMS was also built to support genomics/NGS tests in a clinical environment, which provides significant benefits to clinical lab managers. Clinical managers can rest easy knowing that with Clarity LIMS they have data entry and workflow enforcement in place to track all compliance related information.
Clarity LIMS transcends the idea that LIMS are a necessary evil and addresses these perceptions by streamlining workflows, automating mundane tasks, and assisting with complex tasks -freeing up lab staff to tackle other work. Clarity LIMS fundamentally changes the way lab scientists and lab managers use, and interact with a LIMS.
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.
This release contains forward-looking statements that involve risks and uncertainties, such as the expected closing date of the acquisition. Important factors that could cause actual results to differ materially from those in any forward-looking statements include required closing conditions and the other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We do not intend to update any forward-looking statements after the date of this release.
Rebecca Chambers, 858-255-5243
Eric Endicott, 858-882-6822
Photo Credit: GenoLogics Life Sciences Software
Victoria, BC (Biotech/Life Sciences)
GenoLogics Life Sciences Software Inc.
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