Cytek® Biosciences Automates Panel Design with New Intelligent Algorithm

Rhea-AI Summary

Cytek Biosciences (Nasdaq: CTKB) has introduced the SpectroPanel™ tool, a revolutionary intelligent algorithm that automates panel design within its Cytek® Cloud digital ecosystem. This new feature expands the capabilities of the Panel Builder tool, optimizing it for Cytek's Full Spectrum Profiling™ (FSP™) technology. The SpectroPanel tool can suggest optimized panels in minutes, automating the assignment of fluorochromes to markers and significantly reducing the time and effort required for panel design.

Cytek Cloud, with over 11,000 users, offers a suite of integrated online software tools that streamline workflows for full spectrum flow cytometry research. It supports various applications, including immunology, oncology, and infectious diseases. The addition of the SpectroPanel tool is expected to increase adoption of FSP-based instruments across the industry by simplifying the complex process of panel design.

Positive

• Introduction of SpectroPanel™ tool, automating panel design and reducing time from days/weeks to minutes
• Expansion of Cytek Cloud capabilities, streamlining experimental workflows
• Over 11,000 users on Cytek Cloud platform, indicating strong market adoption
• Potential for increased adoption of FSP-based instruments due to simplified panel design process

Negative

• None.

Insights

Tech Expert

Cytek Biosciences' introduction of the SpectroPanel™ tool represents a significant advancement in flow cytometry technology. This AI-driven algorithm automates the complex process of panel design, potentially revolutionizing workflow efficiency in research laboratories.

The key implications of this development include:

• Time Efficiency: By reducing panel design time from days or weeks to minutes, researchers can significantly accelerate their experimental timelines.
• Democratization of Technology: Simplifying the panel design process could lower the barrier to entry for flow cytometry, potentially expanding its use across various research fields.
• Optimization of Resources: Automated fluorochrome assignment based on antigen density and marker expression could lead to more efficient use of reagents and improved data quality.
• Scalability: With over 11,000 users on Cytek Cloud, the platform has the potential for rapid adoption and scaling of this new feature.

While this tool represents a significant step forward, it's important to note that its true impact will depend on the accuracy and reliability of the AI algorithm in real-world research settings. The integration with Cytek's Full Spectrum Profiling™ technology suggests a synergistic approach that could further entrench Cytek's position in the market.

From an investor perspective, this innovation could potentially drive increased instrument sales and cloud service subscriptions, contributing to Cytek's revenue growth. However, the competitive landscape and the company's ability to protect this intellectual property will be important factors to monitor.

Market Research Analyst

Cytek's launch of the SpectroPanel™ tool is a strategic move that could significantly impact the flow cytometry market. Here's a breakdown of the potential market implications:

• Market Expansion: By simplifying panel design, Cytek is addressing a key pain point in flow cytometry. This could lead to increased adoption of flow cytometry techniques in research fields where it was previously underutilized.
• Competitive Advantage: The proprietary nature of the SpectroPanel™ algorithm, optimized for Cytek's Full Spectrum Profiling™ technology, creates a unique selling proposition. This integration could drive preference for Cytek's instruments over competitors.
• Ecosystem Lock-in: By enhancing Cytek Cloud with this feature, the company is strengthening its digital ecosystem. This could lead to increased customer retention and recurring revenue from cloud subscriptions.
• Market Share Growth: If the tool delivers on its promise, Cytek could see an increase in market share, particularly in academic and pharmaceutical research sectors where efficient workflow is crucial.

However, it's important to consider potential challenges:

• Competitive Response: Competitors may develop similar AI-driven tools, potentially eroding Cytek's first-mover advantage.
• Adoption Curve: Despite its benefits, there may be a learning curve or resistance from researchers accustomed to traditional methods.
• Dependency on AI Performance: The tool's success will heavily depend on the accuracy and reliability of its AI algorithm in real-world applications.

Overall, this innovation positions Cytek favorably in the evolving flow cytometry market, with potential for increased market penetration and revenue growth. Investors should monitor adoption rates and user feedback to gauge the long-term impact on Cytek's market position.

Expanding Capabilities and Streamlining Experimental Workflows

FREMONT, Calif., July 30, 2024 (GLOBE NEWSWIRE) -- Today Cytek Biosciences, Inc. (Nasdaq: CTKB) announced that it has developed a revolutionary tool to automate panel design. The company has expanded the capabilities of the Panel Builder tool within its Cytek^® Cloud digital ecosystem with the addition of SpectroPanel™ tool, a proprietary new intelligent algorithm which suggests optimized panels in minutes.

Optimized for Cytek’s Full Spectrum Profiling™ (FSP™) technology, the SpectroPanel tool automates the assignment of fluorochromes to markers, removing the labor-intensive manual process. This allows scientists to jumpstart their panel design process.

With over 11,000 users and counting, Cytek Cloud is a vital resource in the research community. Supporting full spectrum flow cytometry research from panel design to experiment setup to data acquisition, Cytek Cloud enables researchers to design panels with ease, taking into account antigen density, marker expression, and reagent availability. Users can also access Cytek cFluor^® and Tonbo™ reagents within the platform, via built-in Cytek and partner catalogs.

Cytek Cloud consists of a suite of integrated, online software tools that streamline workflows – combining all spectral panel design tools in one place and allowing users to prepare experiments remotely. Cytek Cloud accelerates the time to insight for a wide range of applications, including immunology, oncology, infectious diseases, and inflammatory diseases. The Panel Builder tool features an easy-to-use panel wizard that guides panel design with the ability to search and modify pre-designed panels and Optimized Multicolor Immunofluorescence Panels (OMIPs). Users can easily build and share panels.

Wenbin Jiang, Ph.D., CEO of Cytek Biosciences said, “This is a major milestone for us – and for the entire research community. What used to take days or weeks can now be done in minutes. The complexity and labor involved in panel design often deters users from utilizing flow cytometry. By simplifying this process, we anticipate increased adoption of FSP-based instruments across the industry. At Cytek, we pride ourselves on evolving our offerings to meet the needs of our users, and the SpectroPanel tool is a direct response to their requests for assistance with panel design. Looking ahead, we plan to expand Cytek Cloud’s capabilities, including enhanced data management, sharing, and analysis features."

For more information, please visit https://cytekbio.com/pages/cytek-cloud.

About Cytek Biosciences, Inc.
Cytek Biosciences (Nasdaq: CTKB) is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling™ (FSP™) technology. Cytek’s novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with precision and sensitivity. Cytek’s FSP platform includes its core instruments, the Cytek Aurora™ and Northern Lights™ systems; its cell sorter, the Cytek Aurora™ CS; the flow cytometer and imaging products under the Amnis^® and Guava^® brands; the Cytek Orion™ reagent cocktail preparation system, and reagents, software and services to provide a comprehensive and integrated suite of solutions for its customers. Cytek headquarters are in Fremont, California with offices and distribution channels across the globe. More information about the company and its products is available at www.cytekbio.com.

Cytek’s products are for research use only and not for use in diagnostic procedures (other than Cytek’s Northern Lights-CLC system and certain reagents, which are available for clinical use in China and the European Union).

Cytek, SpectroPanel, Full Spectrum Profiling, FSP, cFluor, Cytek Aurora, Northern Lights, NL-CLC, Cytek Orion, Amnis and Guava are trademarks of Cytek Biosciences, Inc.

In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek uses its website (www.cytekbio.com), LinkedIn page and X (formerly Twitter) account as channels of distribution of information about its company, products, planned financial and other announcements, attendance at upcoming investor and industry conferences and other matters. Such information may be deemed material information and Cytek may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Cytek’s website, LinkedIn page, and X account in addition to following its SEC filings, news releases, public conference calls and webcasts.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “might," "will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding Cytek’s business, product plans, strategies and market opportunities, including expectations that by simplifying the panel design process, adoption of FSP-based instruments will increase across the industry and Cytek’s plan to expand Cytek Cloud’s capabilities, including enhanced data management, sharing, and analysis features. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management. These statements also deal with future events and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as those relating to global economic, political and market conditions; competition; market acceptance of Cytek’s current and potential products; Cytek’s dependence on certain sole and single source suppliers; Cytek’s ability to manage the growth and complexity of its organization; Cytek’s ability to manage relationships with key customers and suppliers; Cytek’s ability to retain key employees; and Cytek’s ability to continue to stay in compliance with its material contractual obligations, applicable laws and regulations. You should refer to the section entitled “Risk Factors” set forth in Cytek’s most recent Quarterly Report on Form 10-Q filed with the SEC and other filings Cytek makes with the SEC from time to time for a discussion of important factors that may cause actual results to differ materially from those expressed or implied by Cytek’s forward-looking statements. Although Cytek believes that the expectations reflected in the forward-looking statements are reasonable, it cannot provide any assurance that these expectations will prove to be correct nor can it guarantee that the future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or occur. The forward-looking statements in this press release are based on information available to Cytek as of the date hereof, and Cytek disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Cytek’s views as of any date subsequent to the date of this press release.

Media Contact:
Stephanie Olsen
Lages & Associates
(949) 453-8080
stephanie@lages.com

Investor Contact:
Paul Goodson
Head of Investor Relations
Cytek Biosciences
pgoodson@cytekbio.com

FAQ

What is the SpectroPanel™ tool introduced by Cytek Biosciences (CTKB)?

The SpectroPanel™ tool is a proprietary intelligent algorithm developed by Cytek Biosciences (CTKB) that automates panel design within the Cytek® Cloud digital ecosystem. It suggests optimized panels in minutes, significantly reducing the time and effort required for panel design in full spectrum flow cytometry research.

How does the SpectroPanel™ tool benefit researchers using Cytek Biosciences (CTKB) products?

The SpectroPanel™ tool benefits researchers by automating the assignment of fluorochromes to markers, reducing panel design time from days or weeks to minutes. It simplifies the complex process of panel design, potentially increasing the adoption of Full Spectrum Profiling™ (FSP™) based instruments across the industry.

What is the current user base of Cytek Cloud, and what capabilities does it offer?

Cytek Cloud has over 11,000 users and offers a suite of integrated online software tools that streamline workflows for full spectrum flow cytometry research. It supports various applications, including immunology, oncology, and infectious diseases, and allows users to design panels, prepare experiments remotely, and access Cytek cFluor® and Tonbo™ reagents.

How does Cytek Biosciences (CTKB) plan to expand its Cytek Cloud capabilities in the future?

Cytek Biosciences (CTKB) plans to expand Cytek Cloud's capabilities in the future, including enhanced data management, sharing, and analysis features. This expansion aims to further streamline research workflows and improve user experience.