Healthcare giant Roche acquires Seattle DNA sequencing startup Stratos Genomics

Publicly-traded pharmaceutical giant Roche acquired Stratos Genomics, a Seattle DNA sequencing startup.

Based in 2007, Stratos’ expertise is named Sequencing By Growth (SBX), which converts DNA into extra easily-read polymer, making it cheaper and quicker to sequence DNA, in line with the corporate.

Stratos had raised greater than $60 million, in line with PitchBook, including a $20 million round from Fisk Ventures in 2018. Roche was an early investor through its Roche Ventures arm.

“We sit up for additional advancing our sequencing expertise as we transfer to the subsequent technology of healthcare and welcome the world-class scientists and workers from Stratos Genomics to Roche,” Thomas Schinecker, CEO Roche Diagnostics, mentioned in a statement.

Phrases of the deal weren’t disclosed. Stratos will proceed working out of Seattle beneath the identify Roche Diagnostics Seattle. The corporate initially spun out of Stratos Group. It has 60 workers, in line with LinkedIn. Its chairman is Lee Huntsman, a professor emeritus on the College of Washington.

“We’re thrilled to hitch the Roche household, which is able to permit us to mix our distinctive Sequencing by Growth chemistry with the Roche nanopore sequencer,” mentioned Mark Kokoris, President, CEO, and co-founder at Stratos Genomics, in an announcement. “With our mixed experience and complementary applied sciences, we’re well-positioned to open the trail to ship scalable, high-performance sequencing to clinicians and researchers.”

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