Date: 2015-08-22
Type of information: Financing round
Company: Helix (USA - CA)
Investors: Illumina (USA - CA) Warburg Pincus (USA - CA) Sutter Hill Ventures (USA - CA) Mayo Clinic (USA - MN)
Amount: $ 100 million
Funding type: financing round
Planned used: Helix is a new company that will enable individuals to acquire an unprecedented amount of genetic information by providing affordable sequencing and database services for consumer samples brought through third party partners, driving the creation of an ecosystem of consumer applications. After being sequenced, individuals will be able to manage their data and explore an open marketplace of on-demand applications, provided by Helix\'s partners, to gain additional insights into the genomic data that has already been acquired. By converting genetic information to digital data stored in the cloud, Helix enables its partners to develop and deliver premium genomic products to consumers without the burden of developing their own assay, laboratory, or database infrastructure.
Others: * On August 18, 2015, Illumina, Warburg Pincus and Sutter Hill Ventures announced that they have formed a company to empower consumers to discover insights into their own genomes through a vibrant ecosystem of high-quality content partners. The company, called Helix, is based in the San Francisco Bay Area and received financing commitments in excess of $100 million. Jay Flatley , CEO of Illumina , will serve as Chairman of the Board. Illumina expects to consolidate the entity in the company\'s financial statements. The pro-rata impact of this deal was contemplated in the 2015 financial guidance provided by Illumina on July 21, 2015 . In 2016, Helix is expected to be approximately $0.10 dilutive to Illumina\'s non-GAAP earnings per share guidance. The impact on 2016 GAAP earnings per share cannot be determined at this time due to the on-going analysis of accounting measurements. Illumina will provide a reconciliation of the non-GAAP and GAAP earnings per share impact of Helix when it is available.
Therapeutic area: Technology - Services
