Revvity's (RVTY) New Launch to Widen Access to Editing Technology
Revvity, Inc. RVTY recently unveiled its innovative Pin-point base editing platform reagents. This is expected to provide researchers with greater access to implement the advanced gene editing technique in their preclinical laboratories.
The initial reagents launch includes mRNAs for nCas9 and rat APOBEC and three guide RNAs designed to knockout the TRAC, CD52 and PDCD1 loci. Revvity is also offering the flexibility of ordering custom guides for other targets through its Dharmacon custom gRNA ordering tool for the Pin-point base editing platform, thereby supporting various research applications.
The latest launch is expected to significantly boost Revvity’s Life Sciences business on a global scale and solidify its foothold in the niche space.
Significance of the Launch
Base editing reagents, till now, were either custom-ordered by end-users or obtained by non-profit laboratories as individual components. However, with the newly launched reagents, scientists will now be able to fully assess the Pin-point base editing platform in-house.
Base editing signifies a crucial advancement in CRISPR gene editing, thus providing the capability for complex and safe multi-gene editing. This can result in improved functional genomics insights for optimizing drug development and streamlining cell line and cell therapy development and manufacturing. The Pin-point platform is currently one of the few established base editing technologies being employed in clinical settings, thereby positioning it as a discovery and therapeutic tool.
Per management, the streamlined approach is expected to simplify complex multi-gene editing. This has the potential for the development of new cell therapies targeting rare inherited genetic diseases and cancer and the creation of universal donor cells as the foundation of allogeneic cell therapies.
Industry Prospects
Per a report by Coherent Market Insights, the global cell and gene therapy market was valued at $22.7 billion in 2023 and is anticipated to witness a CAGR of 28.7% between 2023 and 2030. Factors like the increasing demand for innovative treatments and the developing interest in cell and gene treatments for cancer treatments are likely to drive the market.
Given the market potential, the latest launch will likely provide a significant impetus to Revvity in the cell and gene therapy space worldwide.
Recent Developments
This month, Revvity launched three next-generation technologies, which aim to help scientists drive breakthrough discoveries in biological research. These technologies include the IVIS Spectrum 2 and IVIS SpectrumCT 2 imaging systems, the Quantum GX3 microCT imaging solution and the Vega preclinical ultrasound system.
Last month, Revvity announced its second-quarter 2023 results, wherein it registered solid non-COVID organic growth. The revenues from its Life Sciences segment were also robust during the quarter, both on a reported and organic basis.
Comparison With Peers
A notable name in the cell and gene therapy space is Avantor, Inc. AVTR. In July, AVTR announced its plans to relocate and significantly expand its Innovation Center in Bridgewater, NJ. The expanded Innovation Center, expected to open in August 2024, will be at a nearby location in Bridgewater, NJ.
The same month, Avantor reported its second-quarter 2023 results, wherein it recorded strong core organic revenue growth in bioproduction. On the earnings call, management confirmed that Avantor’s focus on cell and gene therapy has been yielding double-digit growth in several critical product lines targeting these workflows. The company also introduced novel volume sampling systems to support Cell & Gene Therapy workflows, Cryogenic Storage Vials to support long-term storage of critical biological samples and a new robotics tip line, the J.T.Baker HT2. These look promising for the stock.
Another notable name in the niche space is Catalent, Inc. CTLT, which is also Revvity’s peer. In August, CTLT reported its preliminary fourth-quarter 2023 results, wherein management confirmed Catalent’s continued progress in improving its operational performance and winning new business with new and existing customers.
In June, Catalent announced that it had expanded its integrated development, manufacturing and supply solution, OneBio Suite, across a range of biologic modalities. This included antibody and recombinant proteins, cell and gene therapies and mRNA.
Vertex Pharmaceuticals Incorporated VRTX, another peer of Revvity, is also a renowned name in the cell and gene therapy space. This month, VRTX announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use adopted a positive opinion for the label extension of KAFTRIO (ivacaftor/tezacaftor/elexacaftor) in a combination regimen with ivacaftor, for the treatment of children with cystic fibrosis (CF) aged two to five years old, who have at least one F508del mutation in the CF transmembrane conductance regulator gene.
Last month, Vertex Pharmaceuticals reported its second-quarter 2023 results, wherein it recorded a robust uptick in product revenues. This was primarily driven by the strong uptake of TRIKAFTA/KAFTRIO in multiple countries internationally and the continued performance of TRIKAFTA in the United States, including the launch in children with CF aged two to five years old. Net product revenues in the quarter were also strong both in the United States and outside the United States.
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