PALO ALTO, Calif., Feb. 17 /PRNewswire/ -- Alloy Ventures, a private equity firm focused on information technology and the life sciences, today announced that Michael W. Hunkapiller, Ph.D. has joined the firm as a General Partner. In over two decades at Applied Biosystems , he helped the company grow from startup to over $1.7 billion in annual revenues supplying instrument and reagent systems for life sciences research, clinical diagnostics, and DNA forensics. At ABI, he held several positions, including President and General Manager from 1998-2004.
Hunkapiller's investment focus at Alloy will be at the intersection of the firm's interests in information technology and life sciences innovations, in particular with technologies that will help realize the potential of large scale biology projects to fundamentally change the medical and biotechnology landscape. He will further strengthen the execution of Alloy's strategy of investing in companies that take a high technology approach to addressing important unmet clinical and research needs.
"I am very pleased to join Alloy after my career at Applied Biosystems, which proudly counted Alloy as one of its earliest venture backers," commented Hunkapiller. "Their team takes great pride in personal, direct involvement in helping young companies overcome the inevitable hurdles associated with bringing exciting innovations to commercial success."
Applied Biosystems is recognized as a world leader in supplying sophisticated systems for life science research and related applications such as DNA forensics and molecular diagnostics. The Company pioneered the development of several essential laboratory technologies, including automated DNA sequencing, DNA synthesis, the polymerase chain reaction (PCR), and mass spectrometry. In addition to heading Applied Biosystems, Hunkapiller also served as Senior Vice President of Applera Corporation (ABI's parent), and was also a founder of ABI's sister company Celera Genomics.
Prior to joining Applied Biosystems, Hunkapiller was a senior research fellow at the California Institute of Technology, where he worked with Professor Leroy Hood on the early development of several of the technologies later commercialized at ABI. He received his Ph.D. in Chemical Biology from Caltech in 1974, and was named a Distinguished Alumnus there in 2003.
Alloy General Partner Craig C. Taylor stated, "We are very pleased that Mike has chosen to join our team. It is rare to find an individual who can manage across several technical disciplines, and it is even rarer to find one who can also technically contribute across them."
Hunkapiller has authored more than 100 scientific publications, is an inventor on more than two dozen patents, and has served on the editorial boards of several scientific journals. He has received numerous awards for his contributions to life science research, including the development of the automated DNA sequencing systems used to sequence the human genome. He is a member of several scientific organizations and is a Fellow of the American Association for the Advancement of Science. He also served as Director at Aclara Biosciences and Paracel.
Alloy Ventures invests primarily in seed and early stage companies in information technology and the life sciences. The firm's total committed capital under management exceeds $875 million, including $300 million committed to Alloy Ventures 2002. The firm's partners have been founders and CEOs of successful start-ups, officers of large companies, and have decades of venture capital experience. They have helped start and foster more than 150 companies, including: Adeza Biomedical, Affymax, Affymetrix, Amgen, Applied Biosystems, Aviron, Barrx, Cambrios, Camitro, Conductus, CV Therapeutics, Favrille, Fusion Medical Technologies, Integrated Biosystems, Labcyte, Molecular Imprints, MontaVista, Novasys, Orquest, Pharmacyclics, and Remedy. Respect for the entrepreneur is a core value at Alloy. The firm offers entrepreneurs the experience, connections and capital necessary to build lasting, market-leading companies. For more information, visit http://www.alloyventures.com/.