Life Sciences

From Vision to Victory: The Ascent of a Genomics Innovator

Deal Size:

$3,310,300

Equipment:

Sequencing Equipment

Industry:

Life Sciences

Laying the Foundation: Seed Funding Sparks Ambitious Plans

A trailblazing genomics start-up was founded to offer innovative software and laboratory solutions to enable the development and deployment of complex sequencing-based tests. In its first year, still in its pre-revenue phase, this Life Sciences Biotechnology company secured an initial seed funding of $4 million from angel investors, setting the stage for its ambitious growth plans.

Building Momentum: First Revenue and Strategic Leasing

As the business moved into its second year, it began generating revenue but still had a negative net income. To support its growth and operational needs, the company entered into a Master Lease Agreement (MLA) with NFS Leasing. NFS Leasing provided $1.5 million in equipment financing across two equipment lease schedules. This crucial financing was secured prior to its Series A raise of $20 million, enabling it to acquire the necessary equipment to further its product development and service offerings.

Scaling Up: Continued Support and Expanded Capabilities

In the third year, driven by significant product development and deployment of its services, the business experienced a surge in both revenue and expenses. Recognizing the need for additional sequencing equipment to maintain its growth trajectory, the company entered into three additional equipment lease schedules with NFS Leasing, securing an additional $1 million in equipment financing.

Achieving Milestones: Acquisition and Industry Impact

The strategic support from NFS Leasing played a pivotal role in the business’s expansion and success. By the fourth year, its continuous innovation and market impact attracted the attention of a leading publicly traded medical genetics firm. This culminated in the company’s acquisition of over $200 million, marking a significant milestone in its journey.

Fueling Innovation: The Role of NFS Leasing in this Life Sciences Biotechnology Company’s Success

NFS Leasing’s equipment lease financing solutions were instrumental in the business’s growth, enabling it to scale its operations and achieve remarkable success in the genomics industry.

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