Illumina launches compact, low-cost gene sequencing devices
Adds shares and analyst comments in paragraphs 4-5
By Puyaan Singh and Bhanvi Satija
Oct 9 (Reuters) -Medical equipment maker Illumina ILMN.O announced on Wednesday its new series of smaller, low-cost benchtop gene sequencers, to make sequencing accessible to more research and testing labs.
New generation sequencers, like Illumina's MiSeq devices, help determine the sequence of DNA or RNA to study genetic variation associated with diseases and diagnose rare genetic conditions.
Unlike Illumina's NovaSeq X devices — which are as large as a Xerox copier and designed for in-depth sequencing — the new MiSeq i100 systems can be placed on benchtops, allowing smaller labs, which typically outsource gene sequencing, to have these capabilities in-house.
However, the company's shares were down 1.3%. "Instead of a revolutionary development, the instrument looks more like evolutionary development based on technology in the NovaSeq X platform that has been reworked," said Morningstar analyst Julie Utterback.
"Relative to investor expectations, today's announcement did not meet the bar," said Evercore ISI analyst Vijay Kumar.
The U.S. list price for the NovaSeq X devices starts at just under $1 million compared to the MiSeq i100, which is priced at $49,000.
The i100 Plus system, designed to process a greater number of samples, has a list price of $109,000.
The new MiSeq devices can produce results in just four hours, four times faster than the older MiSeq sequencer that is priced at $99,000.
CEO Jacob Thaysen stated that the new sequencers represent a billion-dollar opportunity for Illumina.
MiSeq i100 devices will offer 18 different programs accessible on the instrument and in the cloud.
These include panels for detecting respiratory and urinary pathogens, conducting influenza A and B surveillance, and utilizing multiple cancer research panels.
The San Diego-based company said it is taking pre-orders for the systems and will start shipping them globally in 2025.
Illumina said the reagents used in these devices can be shipped and stored at room temperature, eliminating the need for costly and bulky freezers.
Reporting by Puyaan Singh and Bhanvi Satija in Bengaluru; Editing by Tasim Zahid and Alan Barona
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