Civilization Ventures Announces Portfolio Exit with Acquisition of Singular Bio by Invitae (NYSE: NVTA)22-Jun-2019
From Business Wire –
CIVILIZATION VENTURES ANNOUNCES PORTFOLIO EXIT WITH ACQUISITION OF SINGULAR BIO BY INVITAE (NYSE: NVTA)
- Singular Bio, Inc. (“Singular Bio”) is a privately held company developing single molecule detection technology to enable lower costs and expanded use of high-quality, cell-free DNA analysis, initially for application in non-invasive prenatal screening (NIPS).
- Invitae, Inc. is a medical genetics company whose mission is to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people.
- Civilization Ventures is a deep tech venture capital firm that has backed dozens of innovative private companies since its inception in 2017, including Singular Bio and Rocket Pharma (NASDAQ: RCKT)
Civilization Ventures is announcing its second portfolio exit in its third year of operations with the acquisition of Singular Bio, a private company developing novel technology for single molecule analysis of DNA, by Invitae, Inc. (NYSE: NVTA), a publicly traded company at the forefront of the genomics revolution.
"We are excited to have supported Singular Bio and its visionary founders at a critical stage of their development as they pursued their mission to expand access to high-quality genetic testing through their breakthrough platform," said Shahram Seyedin-Noor, founder and General Partner of Civilization Ventures. Singular Bio has developed a technology that provides single molecule analysis of a patient's DNA, giving exquisite sensitivity for detecting many common conditions.
“Shahram has been an invaluable partner and investor in our business,” said Dr. Hywel Jones, co-founder and CEO of Singular Bio. “I first met Shahram when he was founding CFO and head of Corporate Development at NextBio – which was acquired by Illumina – and he has been a key business partner ever since.”
Civilization Ventures was founded in 2017 by serial entrepreneur Shahram Seyedin-Noor to invest in transformative technologies across healthcare and biology. Prior to forming the fund, Shahram was co-founder, Executive Chairman and Chief Business Officer of Rgenix, a clinical-stage cancer therapeutics company. Civilization VC has been listed by Silicon Valley Bank as one of the most prolific investors in diagnostics in its Trends in Healthcare Investments and Exits 2018 report.
About Civilization Ventures:
Civilization Ventures is an early-stage investor in deep tech companies in synthetic biology and health tech, encompassing genomics and diagnostics, digital health and AI, and personalized and regenerative medicine.