10x Genomics is an up and coming biotechnology company which has shown a great deal of promise in advancing technology in gene sequencing. The company is based in America and it recently completed a round of funding that increased the value into the billions. It's a big player in the biological and life sciences technology realm which will boost current research with the potential for changing modern medicine as we know it. This fascinating company is one to watch whether you're an investor or another type of stakeholder who has a vested interest in the advancement of new technology in this field. Here are 20 things you didn't know about 10x Genomics, but probably should.
1. 10x Genomics is relatively new
The company has only been in existence for seven years. Serge Saxonov, Ben Hindson and Kevin Ness got together and founded 10x Genomics in 2012. The headquarters is located in Pleasanton, California with Serge Saxonov serving as the Chief Executive Officer and Ben Hindson as President.
2. 10x Genomics is a major player in gene sequencing technology
The company designs gene sequencing technology which is now routinely used to conduct many types of scientific research. They not only design this innovative technology, but they also manufacture it and distribute the tools and equipment to their customers. They largely serve research centers, biotechnology organizations, academic institutions, and clinical research organizations.
3. 10x products aid top researchers
Some of the customers who use 10x products include the research team from Beijing's Tsinghua University, and the University of Toronto's Princess Margaret Genomics Centre, in Canada, as well as MIT and Harvard University. Their products are sold throughout the world and used by some of the most prestigious institutions because of the high level of confidence that they have in the reliability.
4. 10x Genomics is the fastest-growing private company
The San Francisco Business Times recognized 10X Genomics as the Bay Area's fastest-growing private company. The need for the products which it develops and manufactures is immense with the current rate at which biosciences is making new discoveries. Science is relying more and more on this type of advanced technology to analyze data with record speed to learn more about the systems of the body and how certain components and systems work, down to the molecular and chemical levels. 10x has to expand rapidly to keep up with the demand for new and improved technology that keeps up with the pace of research and discoveries so the forward-moving trajectory continues on its current path.
5. 10x is one of the best-funded ventures in Silicon Valley
CNBC issued a report about 10X Genomics and they remarked on the amount of funding that the company has received from investors. Gene sequencing is an important foundation in many research-based companies who are searching for answers that could lead to cures for some of the most debilitating and deadly diseases and health conditions faced by humanity. The importance of technology to speed this research is vital and there is a high demand for it. This, in turn, creates value in the company that is responsible for continuing to produce new and more innovative technologies, hence, investors see it as a potential cash cow and a safe bet for investment.
6. 10x Genomics is valued at $1.28 billion
As of January 2019, 10x Genomics was valued at more than one and a quarter billion dollars. The startup has raised $243 million from investors which include Meritech Capital, Venrock, and Softbank. The latest round of series D funding raised the value of the company to $1.28 billion. It was named to the Inc. 5000 list holding the 69th position, which is an impressive feat indeed.
7. 10x Genomics helps researchers measure biological systems
The technology that is provided by 10X genomics allows researchers to conduct some very complicated calculations which range "from single cell to spatial transcriptomics." Teh company manufactures Chromium products which enable a high level of analysis of biological components on an individual basis, while their Visium products enable an analysis of biological molecules in their spatial context. What this does in ly terms is to allow researchers greater insight into biological structure as well as function and the implications for unlocking knowledge that allows for more effective medical solutions to some of the more complex health issues currently challenging those in the medical profession.
8. They've had their share of controversy
The founders of 10x Genomics were sued by Bio-Rad. The plaintiff alleged that the three breached obligations that they had made to Bio-Rad when the co-founders worked as a team at Quantalife just before it was acquired by Bio-Rad. The case went to court where a judge ruled in favor of Saxonov, Hindson, and Ness, clearing them of the allegations of any wrong-doing.
9. 10x Genomics was sued for infringement
In late 2018, 10x Genomics was involved in yet another lawsuit which claimed that the company had infringed on multiple patents held by the University of Chicago, and licensed exclusively to Bio-Rad. They were not as fortunate in this litigation process. A Delaware jury weighed the evidence and decided that 10x had indeed infringed on the patents and they awarded Bio-Rad $24 million in damages, and they ordered 10x to pay the amount. 10x Genomics is appealing the decision.
10. The company offers over 500 publications
We followed up with the 10x Genomics official website to learn more about the company. We were impressed with the amount of information that they are sharing on the site, and anyone can freely access their publications. There are 500 peer-reviewed publications available which are of high value to people in the research field, as well as for students who are looking for verified academic resources for research purposes.
11. 10x offers promise for immunology research
The technology offered by 10x Genomics is useful for conducting research in the intricacies of the human body's immune system. This gives researchers greater insight into a variety of health conditions including autoimmune disorders, cancer, and infectious disease. The technology that is offered is far more advanced in delivering "unprecedented breadth, depth, and precision." This could be the technology that helps in unlocking the secrets which have acted as barriers to treatment and cures of some of the more treatment-resistant diseases.
12. Advances in neuroscience may help yet more people
10x Genomics products also help researchers and developers in the field of neuroscience to more fully understand the structures and functions which have previously eluded them. Conditions such as Alzheimer's disease, dementia, Parkinson's Disease and the thousands of other neurological conditions may now soon be better understood. This allows developers to more fully address the conditions at the core of their being to develop more effective treatments and improve the quality of human life for those who suffer from neurological conditions.
13. 10x Genomics hit Unicorn Status
We recently learned that the company has done very well in their venture funding rounds. The total take of $243 million is going to be used to expand the research and development efforts of the company, and some of the funds will be used to finance their marketing budget as well. They're doing things now that were impossible just a few years ago, according to the CEO, and the company is making plans to continue their growth into this quickly emerging market.
14. Saxonov and Hindson founded a similar company
Saxonov and Ben Hindson are co-founders of the company QuantaLife. This is the company that spun off the 10x Genomics company. QuantaLife was later acquired by Bio-Rad. These two men have years of experience in the biotechnology field and their expertise is being put to very good use which may benefit mankind as a whole. Saxonov is also the founding director of research for the highly popular 23and Me company, which is a competitor of Ancestry.com.
15. 10x Genomics advances are mind-blowing
The speed at which technology in genetic sequencing is evolving is truly mind-blowing. The advances which are being made now are the things that were once only imagined. These were things that even exceeded the futuristic musings of the Twilight Zone, but they're very real and they're happening right now in the world that we live in.
16. 10x is giving researchers the answers which previously eluded them
The technology in gene sequencing now gives researchers a clearer view of structure and functions which were previously mysteries. They will shortly be able to understand why therapies that work do, and how. They'll also be able to get a clear picture of why therapies fail and what the shortcomings are. Obtaining the answers to these questions is the first step in finding the solutions which are so badly needed. This is truly an age of discovery and 10x Genomics is making so much more possible.
17. 10x is already making acquisitions
It's a good sign when a large and successful company with the potential of 10x is making acquisitions. In 2018, they made two. Although the terms of the agreements have not yet been disclosed, they did share the fact that the company purchased the Epinomics company in August of 2018, followed by a December closing on Spatial Transcriptomics. This shows a tremendous amount of growth and the expansion of their operations in this vital service that they have to offer researchers. In addition to this, the company has added new research facilities located in the country of Sweden, new offices in China and Singapore, and a new manufacturing plant in California.
18. 10x Genomics CEO Saxonov is an immigrant to the USA
Saxonov is a native of Russia. He lived in the country when it was a part of the Soviet Union. He immigrated to the United States in 1990, when he was still a teenager, and the family settled in New York. He was accepted into the applied math program at the prestigious Harvard University. This institution only accepts a small percentage of the applicants for acceptance, so this tells us that he was among the top candidates applying for admission. After completing his studies at Harvard, he relocated to Silicon Valley and attended Stanford University to pursue his Ph.D. in bioinformatics. He has an impressive career. He was the first employee to work at 23and Me, which is a consumer genetic testing pioneer. He worked hard and eventually became the director of research and development at the company. He realized that his talents are more geared towards the business end of this industry than the research, but he has a brilliant mind, and he's a definite asset to our country and to 10x Genomics.
19. 10x Genomics is changing our world
The average consumer may not be aware of all of these wonderful innovations and advances in technology which are currently taking place. Many may never hear of the company, but there are those who will benefit from their contributions when they go in for diagnosis of certain health issues. They'll benefit in the respects that their physicians will have more accurate and faster diagnostic tools and more effective treatments. These are just a few of the ways that 10x Genomics are changing our world.
20. This is a company worth investing in
Investors who are considering investing in the Life Sciences industry may want to take a second look at 10x Genomics. This is a startup that is making tremendous strides in becoming a leader in their sector of the industry. The company is still fairly young, and from all indications, it's only going to expand and grow in the years to come. We fully expect more acquisitions to be made in the near future, and we also expect the business to expand into a more global presence than it is currently.
Written by Dana Hanson
Read more posts by Dana Hanson