Cartana is acquired by 10x Genomics for 425 MSEK
PRESS RELEASE. The American biotechnology company 10x Genomics acquires the Swedish company Cartana, which was financed by the Sciety investment syndicate two years ago.
Three years after launch, the Swedish biotechnology company Cartana will be part of the Nasdaq-listed American company 10x Genomics––the market leader in single-cell analysis technology. The purchase price includes an initial amount of SEK 360 million plus add-on of SEK 65 million, provided that agreed milestones are met.
Cartana is currently located at Karolinska Institute in Stockholm and will continue to be based in Stockholm.
”We are extremely happy to become a part of 10x Genomics, which in our opinion is the most successful and fastest-accelerating supplier of life science tools in the world. This can accelerate the development and distribution of our technology with much greater breadth than would have been possible if we had done it ourselves,” says Malte Kühnemund, founder and vice president of Cartana.
“With its innovative and science-driven entrepreneurial profile, 10x Genomics is the right partner for us and the right home for Cartana. For the team, this means a fantastic opportunity to develop and grow in a large global company,” he says.
Sciety invested in Cartana in 2018
Following the new share issue carried out with the Sciety investment syndicate in 2018, the company launched its first product in neurology and was also able to increase the pace of its product development. In 2020, they launched their second product in oncology.
“This is very happy news and fair recognition of Cartana’s technology. We congratulate Cartana and its shareholders on the deal. It is also gratifying that the company stays in Stockholm and that 10x Genomics increases its presence here in this way. It is important for Swedish life science,” says Andreas Lindblom, CEO of Sciety.
Cartana’s reagents for gene sequencing directly in whole tissue samples are the result of over ten years of research. The technology provides researchers with information both about the type and function of individual brain cells and about their location in relation to each other. This is valuable in research to understand the interaction between cells and how the surrounding environment is affected by and contributes to various disease states.
Cartana was founded by a group of researchers from Stockholm University and Karolinska Institutet, including Mats Nilsson – the pioneer in In Situ sequencing. The company’s products in neurology and oncology are used in research in both industry and academia.
See more news about Cartana here.
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Sciety is the leading Nordic life science and health tech investment syndicate. Our mission is to help life science innovations to reach their full potential.
By combining experience from life science and finance we select promising companies in the industry. We invest our own funds in all companies that pass our selection process and offer the investment syndicate to co-invest on the same terms. The syndicate comprises venture capital firms, family offices, and business angels.