Element Biosciences Announces Over 100 Commercial Orders of its AVITI System and Surpasses Q2 Sales Goals
Business momentum propelled by U.S. and international expansion
/PRNewswire/ -- Element Biosciences, Inc., developer of the Element AVITI™ System, an innovative DNA sequencing platform that is disrupting the genomics industry, today announced it has exceeded 100 orders of the AVITI System. With U.S. and international customers in 13 countries, Element has expanded its commercial team globally through direct sales and distribution networks. The company has seen triple digit quarter-on-quarter growth since launch, and in Q2 reached an estimated 15 percent of the total sales of mid-throughput sequencing instruments, just one year after its first commercial shipments. Element has also signed distribution agreements with 11 distributors across the globe.
"Today's milestone validates the market demand for truly differentiated solutions that help customers achieve more with sequencing, regardless of scale. It is the result of years of hard work by the pioneers at Element, and a strong testament to the creativity, commitment, and grit of our highly effective team across the entire company," said Molly He, PhD, CEO and Co-Founder of Element Biosciences. "As a data-driven company, we are committed to setting ambitious goals and consistently delivering data and outcomes that surpass expectations. This is only the beginning."
Customers around the world are responding to Element's industry-leading data quality, flexibility, and exceptional customer support. Consistently innovating with new technology, Element has disrupted the market with a system that delivers unprecedented performance and quality, regardless of scale. This year, Element introduced the $200 Genome, followed by the launch of Cloudbreak™, enhancements to its chemistry that reduce run times, increase accuracy, and enable even more applications, and a suite of genomic tools, known as the AVITI FIT for even greater flexibility. These innovations underscore Element's unparalleled data accuracy validated in multiple studies, most recently by Andrew Carroll and a team at Google in this BioRxiv preprint.
"We have been very excited by the interest of the scientists we support for the AVITI chemistry. We have many labs that are particularly intrigued by both the cost effectiveness of the platform as well as the very high quality of the reads, which we hope will help us aggressively advance down numerous research paths that are currently poorly supported by the dominant platforms," said Stuart Levine, PhD, BioMicro Center Director, Massachusetts Institute of Technology.
"Our ability to deliver timely, cost-effective sequencing results is critical," said Dr. Madhuri Hegde, FACMG, SVP and Chief Scientific Officer of Revvity, which maintains a global network of laboratories to offer innovative, omics-based services to customers in more than 155 countries worldwide. "Element's AVITI system has provided the improved technology capabilities, flexibility, and affordability to support our ability to positively impact human health around the globe."
"The AVITI system from Element has lived up to its expectations -- the highest quality NGS sequencing backed by a proactive support team for troubleshooting, protocol development and technical issues," said Derek Warner, Director, DNA Sequencing Facility at the University of Utah.
New customers using AVITI span a range of industries, including large genome centers and core labs, biotech companies, government, pharma, and academic labs, using a wide variety of applications in their research. In addition, 80 percent of these customers were experienced users upgrading to the AVITI platform. Over 40 percent of sales were multi-unit orders and Element also welcomed repeat customers adding capacity to their existing fleet of AVITI instruments.
In Asia, customer Burning Rock Dx, a biotechnology company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, purchased multiple AVITI instruments after conducting rigorous and extensive validation work to support its research activities.
"The data quality of Element gave us a lot of confidence, as we saw improved sequencing accuracy, better genome coverage, lower duplication rates, and better performance in difficult genomic areas such as homopolymer region," said Dr. Joe Zhang, CTO of Burning Rock Dx. "This can help us further improve the performance of oncology research products and continue to strengthen our technological leadership."
In Europe, Element and partner EMBL (the European Molecular Biology Laboratory) are featuring AVITI in a new course on the latest state-of-the-art sequencing platform technology and novel library preparation protocols, November 6 to 9 in Heidelberg, Germany.
"For us, the AVITI system could represent a game changer in several dimensions – it fills important gaps with respect to throughput, flexibility, and accuracy, and this comes with an astonishing low price tag," said Christian Thiede, M.D., CEO/CMO of AgenDix GmbH, a provider of sequencing services in Germany.
Helixio, a genomic and bioinformatics service provider with the first AVITI System in France, has been using AVITI consistently for a wide variety of applications, including RNAseq, scRNAseq, whole genome sequencing, metagenomics, and epigenetics.
"Flexibility, fast turnaround time, high-quality data and efficient technical support are key to our success, and the AVITI sequencer delivers," said Véronique Vidal, president of Helixio. "It shows both compatibility with our library preparation workflows as well as easy integration with our existing bioinformatics pipeline, making it an easy transition for us."
About Element Biosciences, Inc.
Element Biosciences is a multi-disciplinary life science company focused on developing disruptive DNA sequencing technology for research markets. Through innovating every fundamental element of a sequencing system, Element empowers customers with affordable, high-quality data and an improved user experience, which in turn will accelerate scientific discoveries and broaden the use of genomic research. To learn more about Element, please visit www.elementbiosciences.com.
Media Contact:
Kristi Heim
Element Biosciences
Kristi.Heim@elembio.com
Michael Galfetti
Mission North
elementbiosciences@missionnorth.com
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SOURCE Element Biosciences
