Eli Lilly will exit the genetic sequencing system provider in a cash-and-share acquisition by 10x Genomics that followed $50m in funding.
Life science technology provider 10x Genomics agreed on Monday to purchase US-based gene sequencing technology producer ReadCoor in a $350m deal that will give an exit to pharmaceutical firm Eli Lilly.
Spun out of Harvard University, ReadCoor has developed products such as a spatial sequencing system that can spatially resolve up to thousands of RNA, DNA, therapeutic molecules and proteins.
Goldman Sachs advised ReadCoor on the acquisition, which will consist of a combination of cash and stock. The company had…
