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Illumina Chooses New Startups for Accelerator Program

NEW YORK (GenomeWeb News) – Illumina announced today that it has chosen three new startups to join its accelerator program, which provides investment capital and other resources to early-stage companies developing new genomic technologies and applications.

Coax Biosystems is developing a platform to understand and engineer microbial community products for agbio. Resilient Biotics is using genomics and analytics to develop antibiotic replacements for infectious diseases. And Haystack Sciences is developing a discovery platform for small-molecule therapeutics.

During the program's six-month funding cycle, Illumina will provide these companies with capital and access to seeding funding from accredited angel investors through a convertible note. They will also be provided with sequencing and genomics expertise and instrumentation, business coaching, and lab and office space in the San Francisco Bay area.

The startups will also be eligible for dollar-for-dollar match funding from the $40 million Illumina Accelerator Boost Capital fund when they raise between $1 million and $5 million in qualifying capital. Also included is a subscription to Illumina's BaseSpace Correlation Engine, BaseSpace Cohort Analyzer, and Clarity LIMS software.

"Over the six months, we try to check all the boxes in building a startup, from how to build a team, to how to develop a go-to-market strategy, to how to find and secure partnerships, networking, and fundraising," Amanda Cashin, co-founder and head of Illumina Accelerator, said in a statement. "We're proud to have these three promising companies join our growing network of genomics startups."

Illumina launched the accelerator program in early 2014, selecting Encoded Genomics, EpiBiome, and Xcell Biosciences as its first investments later that year. Other companies that have been selected in subsequent investment rounds include PathoGn, Biome Makers, and Urology Diagnostics in the second round; and MetaMixis, NextGen Jane, Skinomics, and Vitagene in the third. In August, Illumina also named the Center of Individualized Diagnostic in Saudi Arabia as the first international fellow of the program.

Illumina is currently accepting applications for its upcoming funding cycle. Additional details can be found here.