Division of Illumina Inc.
Latest From Solexa Ltd.
Analyzing the venture financings closed by 2004's new crop of biotech, diagnostics, and medical device start-ups reveals today's trends that may shape tomorrow's health care industry. Here we point out eleven 2004 Series A financings that identify and illustrate what's hot.
Reverse merging into Lynx gives high-throughput sequencing play Solexa the instrument development capabilities, Nasdaq listing and US presence it lacked. What's more, combining Solexa's sequencing technology with the commercial infrastructure at Lynx was enough to secure top-notch management and cash to see the company through to its first product offering, expected as early as late 2005.
In distancing itself from developing technology for single-molecule genome sequencing, US Genomics has partly moved from developing a potentially disruptive technology to providing incremental improvements, first in genomics research. The appeal is that the start-up can get to the market and generate product revenues faster. But whether its new focus will provide the big margins or access to big markets that venture investors find appealing remains an open question.
Summarizing the month in European dealmaking.