Element Biosciences Closes Acquisition of Loop Genomics
Element Biosciences will offer both short-read and long-read sequencing on a common platform.
SAN DIEGO--(BUSINESS WIRE)-- Element Biosciences, developer of a new and disruptive DNA sequencing platform, today announced that the company has closed its acquisition of Loop Genomics, a long-read solutions company that enables short-read sequencers to obtain long range information. Loop Genomics’ Chief Executive Officer and Founder, Tuval Ben-Yehezkel, PhD, will join Element Biosciences’ leadership team as Senior Director, Applications.
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By combining Element’s highly accurate and cost-effective short-read platform with Loop’s easy and scalable long-read solutions, customers will be able to access both short- and long-read applications on the same platform with unprecedented performance, cost, and flexibility.
“Loop Genomics has successfully commercialized innovative products that bring long-read resolution to short-read platforms in a wide variety of genetic analysis applications. We are thrilled to have the Loop Genomics team join us on our journey to open the world of biology to new possibilities,” said Molly He, PhD, co-founder and chief executive officer of Element Biosciences.
“Element’s new sequencer, now armed with long-read capabilities, is positioned to disrupt the genomics space. We are excited to join forces with the team at Element and are looking forward to providing our customers with superior short- and long-read sequencing products,” said Tuval Ben-Yehezkel.
Element’s inaugural virtual event on March 14, 2022, will provide more details on the Loop Genomics technology and its integration with the Element platform. To register for the event, please visit https://registration.elementbiosciences.com/.
Financial terms of the transaction were not disclosed.
About Element Biosciences
Element Biosciences is a multi-disciplinary life science company currently focused on developing disruptive DNA sequencing technology for research and diagnostic markets. Through innovating every fundamental element of a sequencing system, Element will empower customers with affordable high-quality data and an improved user experience, which in turn will accelerate scientific discoveries and broaden the use of genomic medicine. To learn more about Element, please visit elementbiosciences.com.
About Loop Genomics
Loop Genomics is a synthetic long-read sequencing company developing and commercializing products in a wide variety of genetic analysis applications, including among others, genome, transcriptome, microbiome, and immune repertoire sequencing. Its technology includes fundamental innovations in DNA sequencing chemistry and software, which transform short read sequencers into highly accurate long read sequencers. These, in turn, provide previously inaccessible genetic information that can be used in scientific discovery as well as applied genomics data in domains as diverse as human health, animal health, agriculture, and the environment. To learn more about Loop, please visit loopgenomics.com.
Source: Element Biosciences