Stratos Genomics, a US-based DNA sequencing technology developer spun off by technology development services provider Stratos Group, has been acquired for an undisclosed amount by another shareholder, pharmaceutical firm Roche.
Spun off in 2007, Stratos Genomics has developed technology dubbed Sequencing by Expansion (SBX) which facilitates rapid and cost-efficient applications such as the diagnosis of infectious diseases and whole-genome sequencing.
SBX will be integrated into Roche’s nanopore sequencer, which is currently under development and which is expected to deliver end-to-end clinical diagnostic testing to predict and detect diseases.
Stratos Genomics will continue to operate from its current location in the US state of Washington but will rebrand to Roche Diagnostics Seattle post-acquisition.
Thomas Schinecker, chief executive of Roche subsidiary Roche Diagnostics, said: “Roche is dedicated to creating innovative diagnostics for the most challenging clinical conditions with techniques that are tailored to individual genetic and disease profiles.
“These solutions address the demands of research and clinical practice to deliver on the promise of personalised healthcare for patients.
“We look forward to further advancing our sequencing technology as we move to the next generation of healthcare and welcome the world-class scientists and employees from Stratos Genomics to Roche.”
The company had raised more than $60m ahead of the acquisition according to press releases and securities filings, most recently securing $20m from venture capital firm Fisk Ventures in a 2017 deal disclosed early the following year.
Roche took part in a $30m series B round for Stratos Genomics that closed in 2015, investing through its Roche Venture Fund (then known as Roche Ventures) alongside Fisk Ventures.
Fisk Ventures had already contributed to a $6.1m series A round that also featured Stratos Group, and which was completed by the company in 2011.
Image courtesy of Stratos Genomics.
