Rochester, Minn.-based Mayo Clinic has joined forces with two private equity firms and a gene-sequencing firm to develop a digital hub for genomics companies, according to a Minneapolis/St. Paul Business Journal report.
Private equity firms Warburg Pincus and Sutter Hill Ventures join Mayo Clinic and gene-sequencing firm Illumina in creating the hub called Helix. According to The New York Times, Warbug Pincus, Sutter Hill and Illumina have invested a total of $100 million in the project. Mayo's investment totals have not been released, according to the report.
The goal of Helix is to support third-party companies who want to sequence customers' genes, provide analytics on the data and make the data available to partners.
According to NYT, Helix has been in development for more than a year.
"Helix and its founding investors are committed to creating a neutral platform at the highest quality standard that will work with partners to accelerate consumer adoption of genomics, said Jay T. Flately, CEO of Illumina, in a statement.
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