This is one of the prime examples of Europe's decline.
Instead of trying to dominate the sequencing market and gain trillions of dollars from it, they local British early stage investors were more than happy to get a 20x return on their small initial investments, and sold out to the Americans who will then make the real profit.
Here are some good articles about the company:
- Having more than one natural language is bad for the world | 1k
- Illumina | 181, 359, 1