Illumina Accelerator Secures $40 Million Boost Capital to Back New Graduates
February 26 2015 - 6:30AM
Business Wire
Obtains Commitment from Viking Global Investors
to Advance Genomics Startups
Illumina, Inc. (NASDAQ:ILMN) today announced 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. To apply, visit
www.illumina.com/accelerator.
About Illumina, Inc.
Illumina is transforming human health as the global leader
in sequencing and array-based technologies. The company serves
customers in a broad range of markets, enabling the adoption of
genomic solutions in research and clinical settings. To learn
how Illumina is unlocking the power of the genome,
visit www.illumina.com and follow @illumina.
About Viking Global Investors
Viking Global Investors LP is a global investment firm founded
in 1999, with offices in Greenwich, New York, Hong Kong, and
London. The firm manages more than $30 billion in capital and uses
fundamental analysis to select investments, primarily public and
private equity securities, from a wide range of industries
globally. Viking is registered as an investment adviser under the
U.S. Investment Advisers Act of 1940.
Forward-Looking Statements
This release may contain forward-looking statements that involve
risks and uncertainties. Important factors that could cause actual
results to differ materially from those in any forward-looking
statements are 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.
Illumina, Inc.Investors:Rebecca
Chambers858-255-5243rchambers@illumina.comorMedia:Jennifer
Temple858-882-6822pr@illumina.com
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