explore

SAN DIEGO — Companies racing to read the genome accurately, quickly, and affordably have hit a snag recently, with several firms reporting that their growth has slowed, stalled, or reversed. Upstart Element Biosciences is hoping it can succeed despite the challenging market conditions.

The San Diego firm launched a $290,000 sequencer, dubbed Aviti, in March 2022 and now has 150 instruments installed in more than 25 countries, according to a sales update Element shared with STAT. The modest growth comes at a time when some other players are struggling. Singular Genomics announced layoffs of 20% of its workforce earlier this year after the lackluster launch of its own sequencer. And Pacific Biosciences recently laid off nearly 200 employees after reporting disappointing first-quarter sales.

advertisement

Element still has a long way to go in its bid to rival Illumina, a genomics giant that dominates 80% of the sequencing market and has more than 23,000 instruments in use around the world. That includes the NextSeq 2000, a $335,000 sequencer with a similar output to Aviti. Element is betting its blend of accuracy and a more moderate price point can help it carve out a niche of academic and biopharma customers.

STAT+ Exclusive Story

Already have an account? Log in

This article is exclusive to STAT+ subscribers

Unlock this article — plus in-depth analysis, newsletters, premium events, and networking platform access.

Already have an account? Log in

Already have an account? Log in

Monthly

$39

Totals $468 per year

Totals $468 per year

Starter

$30

for 3 months, then $39/month

Then $39/month

Annual

$399

Save 15%

Save 15%

11+ Users

Custom

Savings start at 25%!

Savings start at 25%!

2-10 Users

$300

Annually per user

$300 Annually per user

Get unlimited access to award-winning journalism and exclusive events.