Illumina and Sequoia Capital select first startups to join Genomics Incubator in China
Illumina and Sequoia Capital China, an investment firm, jointly announced the selection of the first two startup companies joining the Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina.
Located in Zhangjiang Cell Industrial Park, Shanghai, the incubator will serve as a company creation engine focused on supporting life sciences startup companies who are poised to deliver breakthrough applications in genomics and multiomics.
Li Qing, Vice President and General Manager, Illumina, Greater China: "The launch of this startup incubator demonstrates Illumina's commitment to supporting the development of China's genomics industry and is a vital part of the company's long-term localization strategy. By leveraging this first-of-its-kind platform, and together with Sequoia Capital China, we will continue to grow China's biotechnology innovation and business presence, as well as foster groundbreaking discoveries with the aim to help millions of patients in China and around the world."
The startups selected for the inaugural funding cycle are Mobidrop Biotechnology, a medical device and research tools company developing cutting-edge, single-cell sequencing microfluidic technologies for molecular diagnostics applications and Sequanta Technologies, a multiomics company committed to building DNA, RNA, epitome, and proteomics technology platforms for research and clinical applications.
Yibo Cao, Managing Director, Sequoia Capital China: "Paying close attention to healthcare sector since our inception, Sequoia Capital China has built up years of experience in this field and developed a systematic portfolio. Through the Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina, we look forward to working together with Illumina to translate outstanding scientific research achievements into industrial applications, to fuel the momentum of entrepreneurship and innovations in China."
Startups will be selected twice a year to join the incubator for a six-month funding cycle. Sequoia Capital China will provide them with access to investment and business guidance, and they will work with Illumina sequencing systems and reagents in a fully operational lab space, accessing Illumina's genomics and business expertise.
Amanda Cashin, Co-founder and Global Head of Illumina For Startups: "The launch of this incubator marks a new chapter for genomics startups and entrepreneurs in China. Together with Sequoia Capital China and leading genomics entrepreneurs, we look forward to unlocking the power of the genome to improve human health in China and beyond."