Capricorn ICT Arkiv makes third successful exit through sale of BlueBee


Capricorn ICT Arkiv has completed its third successful exit with the sale of genomics data analysis solutions provider BlueBee to Illumina, a fellow life science business.   

BlueBee has been a portfolio company of Capricorn since 2016. Quest for Growth, which is an alternative investment fund managed by Capricorn Partners, also sold its position in BlueBee.

The sale will have a positive impact on the NAV of Quest for Growth of around €6m or €0.35 per share.

This has been caused by an increase in the value of the direct investment and the investment through Capricorn ICT Arkiv. It also includes a discount on the amount which will be kept in escrow.

With its sale, this marks the third successful exit for Capricorn ICT Arkiv. Its other two exits have been from Noona Healthcare in 2018 and Cartagenia in 2016.

Illumina designs and builds technology and assays for the analysis of genetic variation and function, helping to create more personalised medicine. Its tools for DNA, RNA, and protein analysis aid disease research, drug development and the development of molecular tests in the clinic.

Its services are used within the life sciences, oncology, reproductive health and agriculture sectors.

BlueBee is a cloud-based software business which offers genomic analysis solutions for research and clinical customers. The Netherlands-based company empowers users to extract insights from genomic data.

With BlueBee’s technology, Illumina will be able to reduce the cost of storing, sharing and managing this information streamed from its 15,000 sequencing systems.

Integrating BlueBee’s technology will also enable Illumina’s users to run their own customised analyses or improve access to its sequencing data analysis solution DRAGEN™ Bio-IT.

Furthermore, users will be able to aggregate, explore and collaborate on data methods directly in the cloud, via a user-friendly interface.

Some of the new capbalilities BlueBee will bring with it include intuitive analysis management (BlueFlow), multi-modal data management (BlueBase) and data science and AI tools (BlueBench).

Illumina senior vice president of product development Susan Tousi said, “Combining BlueBee and Illumina software products provides the most scalable, efficient and extensible genomic analysis solutions for both clinical and translational research use cases.

“BlueBee truly brings unique capabilities, while ensuring secure deployment of clinical informatics across the globe, and together we hope to deliver an unprecedented learning environment in order to unlock the full potential of genomic insights.”

The value of the acquisition was not disclosed.

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