Thermo Fisher engineers path to IntegenX acquisition

IntegenX, a US-based forensic DNA analysis platform developer spun out of University of California (UC) Berkeley, was acquired by biotechnology firm Thermo Fisher Scientific today for an undisclosed sum.
Founded in 2006, IntegenX has created a rapid human DNA identification platform that deploys advanced fluidics, optics and biochemistry to help forensic researchers and law enforcement agencies generate DNA profiles from samples within 90 minutes.
Thermo Fisher will use IntegenX’s products to augment its own human identification capabilities across a range of laboratory techniques. IntegenX currently serves clients in 17 countries.
IntegenX had disclosed a total of $103.8m in equity and debt prior to the acquisition, according to media releases and a report from Xconomy, including a $10m loan secured from Horizon Technology Finance in 2014.
In December 2011, the company obtained $40m in a series C round led by Essex Woodlands that featured Samsung Ventures, a corporate venturing arm of consumer electronics firm Samsung, as well as In-Q-Tel, the VC affiliate of the US intelligence community.
Domain Associates, QuestMark Partners, Greenspring Associates, Cross Creek Capital and RonaHoldings also contributed to the series C round.
Domain Associates led a $15.6m series B round in February that year with participation from In-Q-Tel and Rona, as part of a deal in which IntegenX acquired biosample provider GenVault, with the latter’s investors becoming backers of IntegenX as a result.
In-Q-Tel and Rona had previously participated in IntegenX’s $3m series A round in 2006, when the company was still known as Microchip Biotechnologies.