Illumina Ventures Labs, an incubator for early-stage genomics and precision health companies, has officially launched operations in Foster City, California, and Cambridge, United Kingdom. The venture, part of Illumina Ventures, aims to nurture the growth of start-ups in the healthcare sector, particularly those focusing on genomics.
Illumina Ventures Labs is finalizing agreements with several startups, providing them access to advanced genomics laboratories and a suite of state-of-the-art life science technologies. This support comes from both Illumina and Illumina Ventures’ portfolio companies, equipping these early-stage companies with the tools necessary to reach significant development milestones quickly.
“We applaud the significant progress made by Illumina Ventures Labs to launch a company creation engine providing early-stage companies access to enabling technologies to reach value creation milestones, and we look forward to continuing to work closely with companies pioneering breakthrough applications in genomics,” said Ashley Van Zeeland, vice president of corporate development at Illumina.
“Illumina Ventures Labs offers a unique mechanism to invest in and build early-stage companies,” said Ron Mazumder, PhD, MBA, Partner at Illumina Ventures. “Our facilities, mentorship, and investment model, based on both cash and in-kind contributions, are uniquely suited to the needs of start-ups whose value proposition is enhanced through substantial genomics and sequencing capabilities.”
Startups participating in the Labs program will benefit from direct mentorship and connections within the Illumina Ventures portfolio. This network could potentially drive further value creation for all involved companies. Additionally, through a strategic relationship with Illumina, these companies will have access to Illumina’s R&D expertise.
Illumina Ventures Labs allows participating companies to utilize its facilities for up to eighteen months, offering both virtual and hybrid formats to cater to the varied needs of startups. The expectation is that companies will be significantly de-risked by the end of their tenure in the Labs, making them attractive to a broader range of venture capital investors.
