10X Genomics Founders Prevail in Dispute with Bio-Rad

PLEASANTON, Calif.--(BUSINESS WIRE)-- 10X Genomics, Inc., today announced that its founders and executive officers, Drs. Serge Saxonov, Benjamin Hindson and Kevin Ness, have unequivocally prevailed in an arbitrated dispute brought against them by Bio-Rad Laboratories, Inc. (NYSE: BIO).

In September of 2014, Bio-Rad brought a claim before the American Arbitration Association, alleging that the 10X founders had breached certain contractual non-compete, non-solicitation and confidentiality obligations allegedly owed to Bio-Rad stemming from the acquisition of Quantalife, Inc. by Bio-Rad, in 2011. The 10X founders were employed at Quantalife at the time of the acquisition.

In his ruling, the arbitrator denied all of Bio-Rad’s claims, finding that they were without legal merit and/or unsupportable based upon the evidence presented by both parties. In denying Bio-Rad’s claims, the arbitrator determined that none of the founders had breached any of their obligations to Bio-Rad, and moreover, that the founders are entitled to seek repayment of their attorney’s fees and costs associated with the arbitration, which the founders intend to pursue immediately.

“We are extremely gratified by this outcome,” said Serge Saxonov, 10X’s CEO. “The arbitrator’s ruling validates our firm belief that Bio-Rad’s motivation in bringing this action was not based upon any legal merit. We are very proud of the innovation and product development that our teams have developed at 10X and are pleased by our early commercial success. We appreciate that litigation is often a course chosen by companies that fail in their efforts to compete in the marketplace. We intend to protect our innovation and products by vigorously defending ourselves against these tactics.”

About 10X Genomics

10X Genomics is changing the definition of sequencing by providing an innovative genomics platform that dramatically upgrades the capabilities of existing short read sequencers. The Company does this through a combination of elegant microfluidics, chemistry and bioinformatics. With the GemCodeTM Platform, researchers can now find structural variants, haplotypes, and other valuable long range information while leveraging existing sequencing workflows.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151221005352/en/

Chempetitive Group for 10X Genomics
Trisha Rule, 858-230-4949
[email protected]

Source: 10X Genomics, Inc.

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