10x Genomics
| Company type | Public |
|---|---|
| Industry | Biotechnology |
| Founded | 2012 |
| Founder | Serge Saxonov, Ben Hindson, Kevin Ness |
| Headquarters | Pleasanton, California , United States |
Key people | Justin McAnear (CFO) |
| Products | Gene sequencing technologies and instruments for cellular biology research |
| Website | 10xgenomics |
10x Genomics, Inc. is a United States-based biotechnology firm that specializes in gene sequencing technologies designed for scientific investigation. Established in 2012 by Serge Saxonov, Ben Hindson, and Kevin Ness, the company is dedicated to producing sophisticated instruments for cellular biology research.
History
The company was launched in 2012 by Serge Saxonov, Ben Hindson, and Kevin Ness, with a mission to create cutting-edge solutions for cellular biology studies. Prior to founding 10x Genomics, Saxonov held a leadership role in research and development at 23andMe. Kevin Ness exited the company in December 2016. In 2018, Justin McAnear, who formerly served as Tesla's finance director, was appointed as the Chief Financial Officer.
In the same year, 10x Genomics broadened its capabilities by acquiring two firms: Epinomics, which specializes in epigenetics technologies, and Spatial Transcriptomics, which focuses on spatial genomics. Additionally, plans were announced to establish a new production plant located in Pleasanton, California.
The company made its public market debut on September 12, 2019, successfully raising $390 million through its initial public offering. Its revenue surged from $3.32 million in 2015 to $618.7 million by 2023, demonstrating significant expansion and a strong presence in the biotechnology sector.
Arbitration and lawsuit
Before founding 10x Genomics, Saxonov, Hindson, and Ness collaborated at Quantalife until its acquisition by Bio-Rad in 2011. Upon departing Bio-Rad in 2012 to establish their own company, the founders became involved in an arbitration case in 2014 when Bio-Rad accused them of violating contractual duties. The arbitrator ultimately ruled in favor of the founders in 2015, dismissing Bio-Rad's allegations.
In November 2018, a Delaware jury determined that 10x Genomics had infringed patents owned by the University of Chicago and exclusively licensed to Bio-Rad. The court awarded $24 million in damages along with a 15% royalty on product sales. Although 10x Genomics appealed the decision, the ruling was affirmed in August 2020. By July 2021, both companies reached a global settlement resolving all pending litigation for an undisclosed sum and agreed to cross-license patents related to single-cell analysis technologies.