Please login to the form below

Not currently logged in
Email:
Password:

Illumina sets up first ex-US accelerator site in Cambridge

Boost for UK's golden triangle biotech region

ill

Illumina has set up its first hub for genomics start-up funding outside the US, and has chosen Cambridge in the UK for its location.

The latest Illumina Accelerator will be based in Granta Park – adjacent to Illumina’s EMEA headquarters – and will offer seed investment, access to Illumina’s genomics tools, business guidance and lab space to fledgling genomics firms.

While the decision to locate the unit next to Illumina’s HQ isn’t unexpected, it’s nevertheless a boost to the UK’s ambition to turn the ‘golden triangle’ extending between Cambridge, Oxford and London into a go-to location for life sciences companies.

Cambridge is of course also where Illumina was carrying out the DNA sequencing for the UK’s 100,000 Genomes Project, in collaboration with Genomics England and other partners such as the Wellcome Trust.

Paula Dowdy

Paula Dowdy

Paula Dowdy, Illumina’s general manager of commercial operations for EMEA, said the Cambridge launch means the company is “expertly positioned to further catalyse the rapidly expanding genomics ecosystem” across the region.

Illumina’s first accelerator in San Francisco was set up in 2014 and has already invested in 33 startups in the US and overseas – covering applications in therapeutics, diagnostics, software, and consumer genomics – that have collectively raised over $300m in venture capital funding.

Applications for the first funding cycle in Cambridge – as well as for the eleventh funding cycle in San Francisco – are due by 1 November, and the awards will be made in spring 2020. Thereafter the UK accelerator will run two six-month funding cycles each year.

It’s the second new accelerator launched in Cambridge in the last three months, coming after Start Codon announced plans to provide early-stage funding pots of up to £250,000 for 50 start-ups over the next five years.

Illumina is joining forces with several venture firms for the Cambridge accelerator, including SV Health Investors, Sofinnova Partners, Seventure Partners and F-Prime Capital, as well as providing its own funding via its Illumina Ventures unit.

Professor Sir John Bell, lead for the UK Life Sciences Industrial Strategy, said the new accelerator “will undoubtedly contribute to the UK’s life sciences effort by galvanising genomics startups to harness the rapid and affordable next-generation sequencing technology pioneered by Illumina and develop applications that will benefit human health the world over.”

Article by
Phil Taylor

17th July 2019

From: Research

Share

Tags

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Red Health

Red Health was formed in 2007 to bring something fresh to the healthcare PR world. Our approach was simple –...

Latest intelligence

Empowered patients: shaking the foundations of healthcare
Precision medicine represents a new paradigm in healthcare.This new approach to treating and preventing disease views the patient holistically, analysing their genes, environment and lifestyle, and using this information to...
A uniquely English genomic medicine service
The UK National Health Service is developing one standardised approach to embedding precision medicine across the whole of England. Blue Latitude Health speaks to Dr Tom Fowler, Deputy Chief Scientist...
Blended Intelligence
Data is the most valued commodity of the modern world. For P&P it's all about the application....

Infographics