NEW YORK (GenomeWeb News) – GenoLogics today said that it has raised $8 million in a private round of financing led by Illumina, a new investor in the firm.
The Victoria, British Columbia-based bioinformatics firm said that the funds would be used to accelerate product development for future clinical applications and new desktop sequencing systems and to expand its sales and marketing functions.
Early this year, GenoLogics inked a worldwide, co-selling pact with Illumina covering its Geneus LIMS software. This agreement was followed by GenoLogics last month releasing a LIMS preconfigured package for Illumina next-generation sequencing platforms.
The amount of funding provided by Illumina and its stake in GenoLogics was not disclosed by the firms. Illumina SVP and Chief Commercial Officer Tristan Orpin will join GenoLogics' board of directors as result of the investment.
"The strategic investment by Illumina illustrates our companies' collective commitment to helping our customers overcome some of the most challenging barriers to next-generation sequencing adoption, namely data management," GenoLogics CEO Michael Ball said in a statement.