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Rutgers Completes $44.4M Spinout of RUCDR Infinite Biologics

NEW YORK — Rutgers University has completed the spinout of its RUCDR Infinite Biologics biorepository into a standalone firm called Infinity Biologix, the new company said on Wednesday.

In June, Rutgers announced that it had approved the sale of the lab — which developed the first saliva-based SARS-CoV-2 test to receive US Food and Drug Administration Emergency Use Authorization — for $44.4 million to Viking Global Investors and other undisclosed investors.

Infinity Biologix said that it will continue to operate on Rutgers' New Brunswick campus with over 400 scientists and technicians, although it will be independent of the university. Andrew Brooks, who served as COO of RUCDR Infinite Biologics, has been named CEO of the spinout. Robin Grimwood has been named president and COO and Russell Hager has been tapped as executive vice president of strategic operations.

RUCDR Infinite Biologics was founded in 1999 to provide biobanking services and biomaterials to advance the genetic disease research of partners in the public and private sectors. Following the spinout, Infinity Biologix said it will provide sample collection, processing, storage, and analytical services integrated with scientific and technical support in both the research and clinical arenas.