The annual J.P. Morgan Healthcare Conference in San Francisco is in many ways our industry’s “Superbowl.” For us at Element, this past week’s conference was one of our most pivotal. We closed 2024 strong, over-delivering on our promise of doubling our revenue and AVITI installations compared to 2023.
On January 13th, we took the stage to highlight several new milestones and collaborations: Alongside Revvity, we will co-develop an in vitro diagnostics solution, focusing on newborn sequencing worldwide with our AVITI instrument. We also took another step into the proteomics market through a collaboration with Alamar Bio to offer a co-bundled proteomics solution. And we signed on as a commercial partner with the Human Cell Atlas consortium, an initiative working to map every cell type in the human body and expand our understanding of biology. These partnerships will prove instrumental in driving Element’s continued growth in the year to come.
But most importantly for Element in 2025 will be AVITI24: the world’s first fully integrated, library-prep free single-cell multiomics platform. It is a remarkable and revolutionary step for us, one that takes Element into a vast and untouched playing field. Through AVITI24, researchers will for the first time be able to generate multidimensional data from the same sample and same machine—completely transforming multiomics research and data generation, and definitively setting us apart from any other contemporary approach. Other solutions on the market are segmented and cumbersome, requiring post-experiment data integration. Not AVITI24. Our platform delivers higher data quality in a fraction of the time, all in one truly multiomic instrument.
AVITI24’s integrated platform, dramatically shortened run time, and capacity to co-detect multiple analytes —spanning DNA, RNA, proteins, protein modifications, and cell morphology— within the same biological samples is already carving out whole new markets for us. Since shipments began in December, I am pleased to share that 60% of installations come from new customers, including those in top-tier pharma. As AI is increasingly used to drive drug discovery, AVITI24 is uniquely positioned to provide the large-scale, unified data essential for researchers. By generating multidimensional data from a single sample at an affordable cost, AVITI24 is poised to overcome a major bottleneck in the field.
When we co-founded Element over seven years ago, we had a vision of a future where innovative scientific research tools would not be locked behind steep financial barriers. After all, how can we truly unlock and understand our biology if only a few can afford to access the tools required? So it is with great joy that I can say we are actually achieving this mission we set out on years ago through platforms like AVITI24.
JPM was about setting the stage. But there is more to come from Element in 2025. I hope you will join us on February 20th as we further unveil the road ahead for AVITI24 and our company.