ARTICLE | Financial News

Complete Genomics raises $39 million

August 20, 2010 12:09 AM UTC

Complete Genomics Inc. (Mountain View, Calif.) raised $39 million in a series E round led by new investor Sands Capital. Existing investors Essex Woodlands Health Ventures; OVP; Prospect Venture Partners; OrbiMed Advisors; Highland Capital Management; and Enterprise Partners also participated. Last month, Complete Genomics filed to raise up to $86.3 million in an IPO underwritten by UBS; Jefferies; Baird; and Cowen.

Complete Genomics also said Illumina Inc. (NASDAQ:ILMN) filed suit in the U.S. District Court for the District of Delaware alleging that Complete Genomics' Complete Genomics Analysis (CGA) technology infringes three of Illumina's patents. Complete Genomics, which offers human genome sequencing and analysis using its CGA technology, intends to "vigorously defend" against the lawsuit. The company's genome sequencing center began commercial operations in May. ...