Illumina Invests In New Venture Fund
April 14 2016 - 4:18PM
Business Wire
Will commit $100M over 10 years
Illumina, Inc. (NASDAQ: ILMN) today announced that it has
committed to invest $100M in a new venture capital firm that is
strategically aligned with Illumina’s vision to improve human
health by unlocking the power of the genome. Illumina Ventures was
established by Nicholas Naclerio, Ph.D., Illumina’s former Senior
Vice President, Corporate and Venture Development. The
independently managed firm will pursue investments in early stage
companies that are pioneering new applications of nucleic acid
sequencing, developing products that will expand the genomics
ecosystem, and utilizing genomics to improve human health.
“Under Nick’s leadership, internal venture investing has worked
well for Illumina, providing strategic insight and connections to
key technologies and channels in our industry,” said Jay Flatley,
Chairman and Chief Executive Officer for Illumina. “Participating
in an independent fund led by Nick that can leverage capital and
know-how from other investors who share our strategic interests is
an even more effective way for us to utilize Illumina’s capital to
create incremental shareholder value.”
Illumina will be the majority limited partner in the first fund
with a commitment of $100M, which will be callable by the fund over
10 years.
About Illumina, Inc.
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 follow
@illumina.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160414006637/en/
Illumina, Inc.Investors:Rebecca
Chambers858-255-5243rchambers@illumina.comorMedia:Eric
Endicott858-882-6822pr@illumina.com
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