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Revvity, Element Biosciences to Collaborate on Newborn Sequencing Workflow

NEW YORK – Revvity and Element Biosciences said Monday that they will collaborate on the development and commercialization of an in vitro diagnostic workflow for newborn sequencing.

The agreement builds upon Waltham, Massachusetts-based Revvity's automated next-generation sequencing workflow for newborn sequencing research, and it will support San Diego-based Element's efforts to attain regulatory approval of its Aviti benchtop sequencing system.

"By combining our expertise in newborn screening and rare disease detection with Element's technological capabilities, Revvity aims to deliver a robust, efficient, and accessible solution for neonatal sequencing in both research and clinical settings," Yves Dubaquie, senior VP of diagnostics at Revvity, said in a statement.

Yaron Hakak, senior VP of corporate and business development for Element, added that the collaboration will yield a comprehensive offering that will meet the needs of newborn screening programs globally.

Financial and other terms of the deal were not announced.

Revvity separately announced on Sunday that it had recorded preliminary Q4 2024 revenues of $730 million, which would represent growth of about 5 percent year over year. Organically, revenues for the quarter are expected to rise 6 percent. The firm also expects that its full-year 2024 adjusted earnings per share will meet or exceed the guidance that the firm published on Nov. 4, when it said that full-year EPS was expected to be in the range of $4.83 to $4.87.

The Q4 and full-year 2024 financial results are scheduled to be announced before the market opens on Jan. 31.