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Illumina Buys Fluent BioSciences To Gain Stronger Foothold In Single-Cell Analysis

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Last month, Illumina Inc (NASDAQ:ILMN) had to let go of Grail Inc. Still, the DNA sequencing company has acquired Fluent BioSciences to expand its reach in single-cell analysis and multiomics research.

Launched in 2018, Fluent was backed by Illumina’s venture capital arm. Other investors include Samsara Biocapital, Civilization Ventures, Co-win Ventures and VC23.

While the financial details were not disclosed, the company said the deal was closed and funded with cash it had on hand.

At the close of the first quarter, the company held $1.115 billion in cash, cash equivalents and short-term investments.

Fluent’s single-cell analysis technology eliminates the need for complex, expensive instrumentation and microfluidic consumables.

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Full story available on Benzinga.com

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