Illumina, Inc. (ILMN), Warburg Pincus and Sutter Hill Ventures announced they have formed a company, Helix, to empower consumers to discover insights into their own genomes. The company is based in the San Francisco Bay Area.
Helix will enable individuals to acquire genetic information by providing affordable sequencing and database services for consumer samples brought through third party partners, driving the creation of an ecosystem of consumer applications. After being sequenced, individuals will be able to manage their data and explore an open marketplace of on-demand applications, provided by Helix's partners, to gain additional insights into the genomic data that has already been acquired.
Helix also announced two collaborations with major partners. The Center for Individualized Medicine at Mayo Clinic is collaborating with Helix to develop applications initially focused on consumer education and health-related queries. Mayo Clinic also made a strategic investment in Helix. LabCorp (LH) will develop and offer analysis and interpretation services, initially focused on medically actionable genetic conditions.
Illumina said the pro-rata impact of the deal was contemplated in the 2015 financial guidance issued on July 21, 2015. For 2016, Illumina expects Helix to be approximately $0.10 dilutive to non-GAAP earnings per share guidance.
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