Samsung Ventures will exit DNA identification platform IntegenX, which had raised almost $104m in funding, in an acquisition by Thermo Fisher Scientific.
US-based forensic DNA analysis platform developer IntegenX was acquired by biotechnology firm Thermo Fisher Scientific today for an undisclosed sum, allowing electronics producer Samsung to exit.
Founded in 2006 and spun out of University of California (UC) Berkeley, 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 approximately $104m in equity and debt prior to the acquisition, according to press releases and media reports, including a $10m loan secured from Horizon Technology Finance in 2014.
The company received $40m in a December 2011 series C round led by Essex Woodlands that featured Samsung subsidiary Samsung Ventures as well as In-Q-Tel, the venture capital 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 had led IntegenX’s $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.
The original version of this article appeared on our sister site, Global University Venturing.
