Element Biosciences Announces First Customer Shipments and New Offerings for AVITI™ System

Rhea-AI Summary

Element Biosciences has commenced shipping its AVITI systems to initial customers, which include major core labs and genome centers in the US. This follows the commercial launch of the AVITI System in March. Key highlights include the introduction of the AVITI 150-Cycle Sequencing Kit, priced at $1,080, and a bundled pricing option of $249,000 for three or more units. Additionally, ElemBio Capital Solutions has been launched to provide financing options. These strategic moves reflect Element's commitment to making high-quality genomic tools more accessible.

Positive

• Commenced shipping AVITI systems to major core labs and genome centers.
• Launch of AVITI 150-Cycle Sequencing Kit at a competitive price of $1,080.
• Bundled pricing offers $249,000 for three or more units, promoting bulk purchases.
• Launch of ElemBio Capital Solutions for financing, enhancing customer access.

Negative

• None.

SAN DIEGO--(BUSINESS WIRE)-- Element Biosciences, Inc., developer of the Element AVITI™ System, a new and disruptive DNA sequencing platform, today announced it has shipped multiple AVITI systems to its first set of customers. Additionally, Element is introducing new volume-based pricing, launching ElemBio Capital Solutions™ for financing and leasing options, and announcing the upcoming launch of its new AVITI 150-Cycle Sequencing Kit to ship Q4 2022. This is all to meet rapidly growing customer demand following the commercial launch of the AVITI System in March. The details of Element’s newest customers, offerings, and pricing were shared earlier today at the “Elements of Freedom” workshop during the 2022 AGBT General Meeting.

Shipping of AVITI has begun

Element has begun shipping AVITI to its first set of customers, comprised of major core labs and genome centers in the US, with some customers purchasing multiple units.

“The commitments of these leading institutions to use the AVITI System are important milestones for Element and the sequencing industry overall, representing major inflection points as we realize our vision to dramatically expand access to high quality, low-cost, and easy-to-use genomics tools,” said Molly He, PhD, CEO and co-founder of Element. “As we continue to expand our customer base with strategic early adopters, we are also continuing to grow our partner footprint with industry-leading institutions in the next generation sequencing space to ensure that AVITI works in any research environment as a ‘plug-and-play’ system in support of our mission of accessibility and democratization.”

New AVITI System Offerings and Incentives

The AVITI System is based on a single flow cell and sequencing reagent cartridge design that offers up to 300 cycles and tunable read throughput control for each of two independently operated flow cells. Today, Element announces its upcoming launch of the AVITI 150-Cycle Sequencing Kit, designed for researchers who want to do short-read sequencing such as bulk RNA-seq, single-cell RNA-seq, single or paired-end short-read length sequencing. This offering will be available to all customers in Q4 2022 at a price of $1080 per kit, delivering unprecedented $1-1.35 per million reads at >90% Q30 on a desktop instrument in each lab that doesn’t require batching, a truly unique offering in the sequencing market.

For customers who want multiple units, Element will now offer special bundled pricing for customers who purchase three or more units. The bundled price will be $249,000 for each instrument, as compared to the current standard pricing of $289,000 per unit if purchased individually. In addition, Element is launching ElemBio Capital Solutions™ in partnership with DLL, a global financial solutions provider and fully-owned subsidiary of the Rabobank Group, which will provide financing and leasing options for customers who want to get started quickly without upfront ownership costs.

“Consistent with our unrelenting focus on advancing scientific discoveries and our desire to democratize sequencing, we continue to bring forward features and options that will ensure the accessibility of high quality, affordable sequencing to all researchers,” said Shawn Levy, PhD, Senior Vice President of Applications and Scientific Affairs at Element. “Demand for the AVITI System has been very robust and our latest offerings reflect our commitment to remaining adaptive to meet the varied needs of the research and diagnostic markets we serve.”

Element at AGBT

As a Silver Sponsor of the 2022 AGBT General Meeting, the Element team is on-site at the event in full force, with several presentations and events to highlight the benefits of the AVITI System. Today, Element presented its “Elements of Freedom” workshop in a panel moderated by Element’s Shawn Levy and joined by industry leaders who shared their firsthand experiences with the AVITI System and its potential to be a disruptive game-changer in genetic sequencing. The panel will feature Andrew Carroll from Google DeepVariant, Chris Mason from Weill Cornell, Sheila Dodge from the Broad Institute, and Michael Previte, PhD, Element’s co-founder, Chief Technology Officer, and Senior Vice President of R&D.

Element continues to expand its bench of key partnerships with established and emerging leaders in the NGS Library Prep and Bioinformatics segments, each of whom demonstrate powerful use cases for the AVITI System. In addition to its previously announced partners, Element has added Olink, Miroculus, Gencove Inc., Volta Labs, and seqWell.

Element AVITI System

The AVITI System operates two random access flow cells that enable independent run start flexibility of each flow cell, and the AVITI operating software features tunable read throughput control for additional run time flexibility. Element’s proprietary Avidity Sequencing™ chemistry enables exceptional accuracy and cost efficiency that is unmatched by other benchtop systems. Full product features, specifications, and pricing can be found here.

About Element Biosciences, Inc.

Element Biosciences is a multi-disciplinary life science company currently focused on developing disruptive DNA sequencing technology for research and diagnostic markets. Through innovating every fundamental element of a sequencing system, Element will empower customers with affordable high-quality data and an improved user experience, which in turn will accelerate scientific discoveries and broaden the use of genomic medicine. To learn more about Element, please visit elementbiosciences.com.

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For Element Biosciences:

Media Contact

Valerie Enes

valerie@teamseismic.com

(408) 497-8568

Source: Element Biosciences, Inc.

FAQ

What recent developments has Element Biosciences announced for its AVITI system?

Element Biosciences has begun shipping the AVITI systems to its first customers and introduced a new AVITI 150-Cycle Sequencing Kit.

What is the price of the new AVITI 150-Cycle Sequencing Kit?

The new AVITI 150-Cycle Sequencing Kit is priced at $1,080.

What financing options are available for customers purchasing the AVITI system?

Element has launched ElemBio Capital Solutions to provide financing and leasing options for customers.

What are the benefits of the bundled pricing for the AVITI system?

The bundled pricing offers each instrument at $249,000 if customers purchase three or more units, compared to the standard price of $289,000 per unit.

Which institutions are among the first customers for the AVITI system?

The first customers include major core labs and genome centers in the US.