10x Genomics, a California-based genetics company that develops integrated systems and solutions for genome sequencing, purchased Swedish biotech company Spatial Transcriptomics for an undisclosed amount in December, its second deal of 2018.
Spatial Transcriptomics, headquartered in Stockholm, is a major player in the field of spatial genomics and RNA sequencing. Its technology aims to understand how cells interact in relation to another, which aids the research for fields like oncology, neurology, and immunology.
That deal comes after 10x Genomics’ purchase of Epinomics, an epigenomics company that operates software platforms that research and analyze DNA data sequences for the biotech and pharmaceutical industry. 10x Genomics now can leverage Epinomics’ proprietary epigenetic technology, which researches how inheritance and environment affect the genetic code or sequence. 10x Genomics will merge it with its new Chromium Single Cell ATAC Solution platform, which can help researches understand genetically inherited diseases.
While only a startup, 10x Genomics has made strong gains, especially with investors such as Venrock, Softbank, Foresite Capital, Fidelity, and Meritech Capital. Earlier this year, 10x announced that it had earned $100 million in revenue since its first product introduction in mid-2015, and that its revenues had increased over 150% year over year.
The genomics market is seeing exponential growth as well and is estimated to be at approximately $24 billion by 2022.