MedTech Dive July 12, 2024
The startup claims companies that choose its device over Illumina’s sequencer can save almost $1.5 million in three years.
Dive Brief:
- Element Biosciences said Wednesday it raised $277 million in a Series D financing round, giving the company additional capital to challenge Illumina in the sequencing market.
- The company launched a benchtop sequencer in 2022. Element claims companies that choose its Aviti device over Illumina’s rival Nextseq 2000 sequencer can save almost $1.5 million in three years.
- With a second device, Aviti24, available for preorder, Element has so far raised more than $680 million to support the commercialization of its products in a competitive market.
Dive Insight:
Illumina dominates the short-read sequencing market. While Pacific Biosciences and Oxford...
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