Element Biosciences, Inc.

Based in the US, Element Biosciences, Inc. is a biotechnology company focused on advanced sequencing technologies that empower researchers in biological sciences through innovative solutions. Element Biosciences, Inc. specializes in developing cutting-edge sequencing technologies and multiomics platforms for researchers.

Founded in 2017, the company is headquartered in San Diego, California, US. The founders, Matthew Kellinger and Michael Previte, have contributed to the company's vision of transforming genomic research. Element has successfully completed 6 investment deals, with the most recent funding of USD 277 mn in Series D led by Wellington Management on July 11, 2024, bringing the total amount raised to USD 277 mn and a current company valuation of USD 902. 29 mn.

Element Biosciences specializes in advanced sequencing technologies and multiomics platforms designed to empower researchers in the biological sciences. Their flagship offerings include the AVITI™ series, which features the AVITI24™, a high-throughput sequencing platform capable of direct spatial sequencing in tissue samples without the need for library preparation. This technology allows for simultaneous profiling of RNA, proteins, and cell morphology, streamlining workflows for complex biological analyses, particularly in clinical research and cancer studies. Element’s clients primarily encompass academic research institutions, clinical laboratories, and pharmaceutical companies across various geographical markets, including North America, Europe, and Asia-Pacific, all of which seek to leverage high-quality, cost-effective solutions for diverse genomic and proteomic applications.

Element Biosciences generates revenue through direct sales of its innovative sequencing systems and associated reagents and kits, which are distributed primarily through B2B partnerships with research institutions and clinical laboratories. The company’s revenue model includes transactional agreements where clients purchase AVITI™ systems and consumables, such as the Trinity™ target capture workflows, to facilitate their research needs. This enables customers to engage in real-time, high-throughput sequencing activities, while also potentially subscribing to ongoing support and service agreements to optimize system performance. Pricing structures for these products reflect their advanced capabilities and the significant efficiencies they offer, particularly in the areas of tumor profiling and multiomics research, catering to a diverse client base that demands high-quality sequencing data at a competitive cost.

In July 2024, Element Biosciences, Inc. raised USD 277 mn in Series D funding led by new investor Wellington Management, with participation from Samsung Electronics and returning investors. The company intends to utilize this funding for product development commercialization and customer expansion. Future growth initiatives include the launch of new sequencing products and enhancing their presence in emerging markets across Asia-Pacific and Europe by late 2025.