Singular Genomics Joins the 10x Genomics Compatible Partner Program

Rhea-AI Summary

Singular Genomics Systems, Inc. (NASDAQ: OMIC) announced that its G4 Sequencing Platform is now compatible with the 10x Genomics Chromium Single Cell platform through the Compatible Partner Program. This partnership promises enhanced performance for customers, ensuring faster, more accurate, and cost-effective single-cell sequencing results. Jorge Velarde emphasized the G4's flexibility and scalability, while 10x Genomics recognized its accuracy. Additionally, the press release includes forward-looking statements regarding potential revenue and market challenges, highlighting a competitive landscape and the need for strong market acceptance of their products.

Positive

• G4 Sequencing Platform compatibility with 10x Genomics' Chromium Single Cell platform enhances user experience.
• Partnership may lead to faster, more accurate, and cost-effective sequencing results for customers.

Negative

• Company has incurred significant losses since inception and expects to incur further losses.
• Limited manufacturing and commercialization history may hinder future growth.
• Strong competition in life sciences technology market presents risks to operating results.

– Demonstrates compatibility of the G4 Sequencing Platform with 10x Genomics Single Cell Applications –

SAN DIEGO, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Singular Genomics Systems, Inc. (Nasdaq: OMIC), a company leveraging novel next-generation sequencing (NGS) and multiomics technologies to empower researchers and clinicians, today announced its G4 Sequencing Platform demonstrated compatibility with the 10x Genomics’ Chromium Single Cell platform through the 10x Compatible Partner Program (CPP).

The 10x Genomics Chromium Single Cell platform combines instruments, consumables and software for analyzing biological systems at a resolution and scale that matches the complexity of biology. Combined with the G4, a powerful, highly versatile benchtop genomic sequencer, users will be able to produce fast, accurate and cost-effective single cell sequencing results.

“We are excited to join the 10x Genomics Compatible Partner Program. The G4 sequencing platform is ideally suited to read out 10x libraries, offering a combination of flexibility, scale, and speed, that will translate to a more seamless complete workflow, faster results, and lower costs for our shared customers,” said Jorge Velarde, Senior Vice President of Corporate Development and Strategy at Singular Genomics. “This milestone validates the G4 as a plug-and-play solution for single cell sequencing and ensures that our users are well supported to produce consistent high-quality data.”

“Through our Compatible Partner Program, we’ve shown the G4 platform from Singular Genomics is a highly accurate sequencer for our single cell solutions,” said Edwin Hauw, Vice President of Marketing at 10x Genomics. “We recognize researchers have various throughput needs and are pleased to certify Singular Genomics and the G4 through our Compatible Partner Program. We look forward to working together to enable more routine use of single cell analysis as we push scientific research forward.”

For more information on the 10x Genomics Compatible Partner Program, visit www.10xGenomics.com.

About 10x Genomics

10x Genomics is a life science technology company building products to interrogate, understand and master biology to advance human health. Our integrated solutions include instruments, consumables and software for analyzing biological systems at a resolution and scale that matches the complexity of biology. 10x Genomics products have been adopted by researchers around the world including in all of the top 100 global research institutions as ranked by Nature in 2021 based on publications and all of the top 20 global pharmaceutical companies by 2021 research and development spend and have been cited in over 4,500 research papers on discoveries ranging from oncology to immunology and neuroscience. Our patent portfolio comprises more than 1,700 issued patents and patent applications.

About Singular Genomics Systems, Inc.

Singular Genomics is a life science technology company that develops next-generation sequencing and multiomics technologies. The commercially available G4 Sequencing Platform is a powerful, highly versatile benchtop genomic sequencer designed to produce fast and accurate results. In development, the PX system leverages Singular’s proprietary sequencing technology, applying it as an in-situ readout to look at RNA and proteins in single cells and tissue. With these products, Singular Genomics’ mission is to empower researchers and clinicians to advance science and medicine. Visit www.singulargenomics.com for more information.

Forward-Looking Statements

Certain statements contained in this press release, other than historical information, constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include and are not limited to statements regarding: (i) our preliminary revenue estimate for fiscal 2022; (ii) our ability to successfully manufacture and commercialize the G4 in accordance with our timelines, objectives and specifications; (iii) the market opportunities for our product offerings; and (iv) the ability of our product offerings to successfully compete with existing and new products offered by our competitors. Any such forward-looking statements are based on our management’s current expectations and are subject to risks and uncertainties that could cause our actual future results to differ materially from our management’s current expectations or those implied by our forward-looking statements. These risks and uncertainties include and are not limited to the following: (i) our preliminary revenue estimate for fiscal 2022 is subject to material changes and adjustments as we complete our financial closing procedures and our financial statements are reviewed by our outside auditors; (ii) we have incurred significant losses since inception, we expect to incur significant losses in the future and we may not be able to generate sufficient revenue to support our business plans and future operations; (iii) we have very little history manufacturing and commercializing our products or technology; (iv) the life sciences technology market is highly competitive, and if we fail to compete effectively, our business and operating results will suffer; (v) if we are sued for infringing, misappropriating or otherwise violating intellectual property rights of third parties, such litigation could be costly and time consuming and could prevent or delay us from developing or commercializing our products; (vi) if our products fail to achieve early customer and scientific acceptance, we may not be able to achieve broader market acceptance for our products, and our revenues and prospects may be harmed; (vii) we expect to be highly dependent upon revenue generated from the sale of the G4 and planned PX, and any delay or failure by us to successfully manufacture and commercialize the G4 and planned PX could have a substantial adverse effect on our business and results of operations; and (viii) the COVID-19 pandemic and recent macroeconomic conditions have adversely impacted, and may continue to materially and adversely impact, our business, operations and product manufacturing and commercialization objectives. These and other risk factors that may affect our future results of operations are identified and described in more detail in our most recent filings on Forms 10-K and 10-Q and in other filings that we make with the SEC from time to time, including our Quarterly Report on Form 10-Q for the period ended September 30, 2022, filed with the SEC on November 7, 2022. Accordingly, you should not rely on forward-looking statements as predictions of future events or our future performance. Except as required by law, we undertake no obligation to update publicly or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

Investor Contact

Matt Clawson
949-370-8500
ir@singulargenomics.com

Media Contact

Dan Budwick, 1AB
973-271-6085
dan@1abmedia.com

FAQ

What is the significance of the G4 Sequencing Platform's compatibility with 10x Genomics for OMIC stock?

The compatibility enhances the usability and efficiency of sequencing processes, potentially increasing demand for OMIC's G4 platform.

What are the potential risks mentioned in the press release for Singular Genomics (OMIC)?

Risks include significant ongoing losses, competition in the market, and challenges in achieving market acceptance for its products.

How does the partnership with 10x Genomics benefit OMIC investors?

The partnership may improve OMIC's market position by delivering improved sequencing solutions, thus driving revenue growth.

When was the press release about OMIC's partnership with 10x Genomics published?

The press release was published on February 2, 2023.