Independent new company will accelerate development of Illumina’s
forensic genomics technologies to enable more insight than traditional
SAN DIEGO--(BUSINESS WIRE)--Aug. 24, 2017--
Illumina, Inc. (NASDAQ: ILMN) today announced plans with Telegraph Hill
Partners (THP), a San Francisco-based venture capital and growth equity
firm, to establish Verogen, Inc. The independent new company has certain
exclusive rights to provide Illumina’s forensic sequencing technology to
forensic customers, including for criminal casework and other human and
nonhuman forensic applications. The creation of Verogen enables an
unprecedented focus on accelerating growth of Illumina’s leading
next-generation sequencing (NGS) technology in the forensic genomics
Illumina will continue to manufacture the MiSeq FGx™ Instrument and core
sequencing consumables. During a short transition period, Illumina will
provide products, sales and marketing, and service and support to
forensic customers while forensic staff and infrastructure transition to
the Verogen business. The companies, together in partnership, assure a
smooth transition and experience for customers.
“Verogen will build on Illumina’s past efforts by focusing on
innovation, development, and commercialization of forensic genomics
products, built on a deep understanding of how to improve the science
behind the use of genetic data in matters of justice,” said Dawn Barry,
Vice President, New and Emerging Markets at Illumina. “The MiSeq FGx
Forensic Genomics System continues to lead the transition to NGS, and we
believe the best way to realize the full potential of this business is
to create a company with a management team dedicated to using genomics
to make a safer and more just world.”
The MiSeq FGx Forensic Genomics System has been deployed in operational
crime laboratories, private service labs, and forensic research
institutes worldwide. Significant gains toward the implementation of the
system into routine forensic casework were made in 2016 and the earliest
adopters are expected to go live this year.
“The power of genomics to serve the forensic market while improving
justice and public safety, provides a strong case for the need to
address remaining barriers to NGS adoption in crime laboratories as
quickly as possible,” said Paul Grossman, Venture Partner, at THP. “We
believe that Illumina’s market-leading NGS technology and our team of
dedicated forensic experts, in combination with the growth capital and
resources that THP provides, position Verogen and its customers for
Verogen is headquartered in the San Diego area. It will be the sole
provider of the MiSeq FGx Forensic Genomics System, including the MiSeq
FGx sequencer, ForenSeqTM DNA Signature Prep Kit, and the
ForenSeq Universal Analysis Software, and has global commercial rights
to these products. The Company is committed to the robust, reliable, and
continuous sale and support of these products and of other Illumina
products to forensic labs, as well as to participation within the global
forensic community to operationalize NGS in routine forensic genomics.
Kirk Malloy has been named Chief Executive Officer of Verogen. Malloy
was an executive at Illumina for 13 years, most recently as Senior Vice
President for Applied Genomics until April 2016. Cydne Holt will serve
as General Manager and Chief Scientific Officer of Verogen. Holt
previously managed forensic genomics at Illumina.
“Forensic customers have unique requirements and I look forward to
working with them to provide the best NGS solutions for their
applications,” said Malloy. “We feel we can best serve this growing
market by having a singular focus and forensic-specific functionality.”
About Verogen, Inc.
Verogen, Inc. is committed to public safety and justice for all.
Headquartered in the San Diego area, it develops, manufactures, and
sells forensic genomics products and services, including for
next-generation sequencing. For more information, visit www.verogen.com.
Illumina is improving human health by unlocking the power of the genome.
Our focus on innovation has established us as the global leader in DNA
sequencing and array-based technologies, serving customers in the
research, clinical and applied markets. Our products are used for
applications in the life sciences, oncology, reproductive health,
agriculture, and other emerging segments. To learn more, visit www.illumina.com
and follow @illumina.
About Telegraph Hill Partners
Telegraph Hill Partners is a life science focused venture capital and
growth equity firm founded in 2001 and based in San Francisco. To learn
more, visit www.thpartners.net.
Illumina Forward-Looking Statements
This release contains forward-looking statements that involve risks and
uncertainties, such as Illumina’s expectations regarding its financial
outlook and guidance for fiscal 2017 and the launch of any products.
Among the important factors that could cause actual results to differ
materially from those in any forward-looking statements are (i) our
ability to further develop and commercialize our instruments and
consumables and to deploy new products, services, and applications, and
expand the markets, for our technology platforms; (ii) our ability to
manufacture robust instrumentation and consumables; (iii) our ability to
successfully identify and integrate acquired technologies, products, or
businesses; (iv) our expectations and beliefs regarding future conduct
and growth of the business and the markets in which we operate; (v)
challenges inherent in developing, manufacturing, and launching new
products and services, including the timing of customer orders and
impact on existing products and services; and (vi) the application of
generally accepted accounting principles, which are highly complex and
involve many subjective assumptions, estimates, and judgments, together
with other factors detailed in our filings with the Securities and
Exchange Commission, including our most recent filings on Forms 10-K and
10-Q, or in information disclosed in public conference calls, the date
and time of which are released beforehand. We undertake no obligation,
and do not intend, to update these forward-looking statements, to review
or confirm analysts’ expectations, or to provide interim reports or
updates on the progress of the current quarter.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170824005403/en/
Source: Illumina, Inc.
Rebecca Chambers, 858-255-5243