10x Genomics has bought Harvard's genetic sequencing system provider and also revealed it closed its purchase of Stockholm University spinout CartaNA.
Life science technology provider 10x Genomics agreed on Monday to purchase ReadCoor, a US-based gene sequencing technology spinout of Harvard University, in a $350m deal.
Goldman Sachs advised ReadCoor on the acquisition, which will consist of a combination of cash and stock.
Spun out of Harvard University’s Wyss Institute for Biologically Inspired Engineering in 2016, ReadCoor has developed products such as a spatial sequencing system that can spatially resolve up to thousands of RNA, DNA, therapeutic molecules and proteins.
The company had raised $50m in funding. Pharmaceutical firm Eli Lilly subsidiary Lilly Ventures contributed to a $23m series A round for ReadCoor in 2016 that was led by Decheng Capital and also backed by Vivo Capital and Hansjörg Wyss.
ReadCoor secured another $27m in a January 2020 series B round that included Singaporean state-owned vehicle Pavilion Capital, Decheng Capital, Hansjörg Wyss and undisclosed existing…
