Element Biosciences’ DNA sequencer hits “triple digit” quarterly sales growth

The device, known as the Element AVITI System, employs a proprietary form of sequencing technology called avidity sequencing, which is designed to sequence DNA more accurately and at a lower cost than traditional methods.

The sales increase came as Element built up its commercial team and expanded its sales and distribution networks worldwide. The committed orders for the AVITI System so far have come from U.S. and international customers in 13 countries, with more than 40% of the orders being for more than one unit. The customers come from a range of backgrounds including large genome centers, biotech and pharma companies, and government and academic labs.

Element plans to continue expanding its sales and product offerings going forward. In early 2023, the firm released a throughput-focused option for the AVITI system capable of sequencing a genome for as low as $200 per genome. In June 2023, the company also released Cloudbreak, an improvement to its sequencing technology that boosts speed and data quality.

Precedence Research valued the global DNA sequencing market at more than $9 billion​ in 2022 and predicts the market to grow to almost $38 billion by 2032. Some of the big players in the field include Illumina, Inc. Qiagen and Oxford Nanopore Technologies Ltd.

In particular, Illumina’s hold on the industry has caused friction with regulators, with the EU fining Illumina $476 million in July 2023 for taking over the cancer test developer Grail before getting antitrust approval in the EU.

“The sequencing industry has long been dominated by legacy players led by Illumina, but that dominance has come at a cost to its customers, who need more affordable, flexible genomics tools to accelerate their research,” Element's chief scientific officer and SVP of applications Shawn Levy told Outsourcing Pharma in an email. “Competition breeds innovation and benefits all of us.”