PacBio delivers Vega systems to Berry Genomics for developing targeted assays in genetic screening, enhancing clinical applications in China.
Quiver AI Summary
PacBio has delivered its first Vega systems to Berry Genomics as part of an early access agreement aimed at developing and optimizing targeted assays for carrier, prenatal, and newborn screening in China and other markets. Berry Genomics plans to create a solution tailored to its clinical customers and will navigate the regulatory review process in China for the resulting instrument. As part of the agreement, they intend to purchase over 50 Vega units. The Vega system is PacBio's first compact, long-read sequencing platform, designed for accuracy and quick sample processing, catering to the needs of small to medium-sized laboratories. Both companies express enthusiasm for their collaboration, which is expected to enhance access to advanced genomics services in clinical settings.
Potential Positives
- PacBio has successfully delivered its first Vega systems to Berry Genomics, marking a significant milestone in its early access agreement.
- Berry Genomics has committed to purchasing over 50 Vega units, indicating strong demand and confidence in PacBio's technology.
- The collaboration with Berry Genomics aims to enhance clinical applications for targeted assays in China, potentially expanding PacBio's market presence in Asia.
- The Vega system, as PacBio's first benchtop long-read sequencer, offers a compact solution with exceptional data accuracy, catering to the needs of small to medium-sized laboratories.
Potential Negatives
- The press release highlights the reliance on Berry Genomics for early access and feedback on the Vega system, which may suggest a lack of confidence in the product's independent development and market acceptance.
- The mention of "potential delays in product development" and "potential performance and quality issues" as risks could create concerns regarding the reliability of PacBio’s offerings and their impact on company reputation.
- The statement regarding the requirement to obtain NMPA and other product registrations implies regulatory hurdles that may delay commercialization and limit market entry in key regions.
FAQ
What is the Vega system from PacBio?
The Vega system is PacBio's first benchtop long-read sequencing platform, designed for compact, accurate, and efficient genetic testing.
Who is Berry Genomics?
Berry Genomics is a Chinese company focused on transforming genetic testing technology for clinical applications, including reproductive health and genetic disease testing.
What agreement was made between PacBio and Berry Genomics?
Under an early access agreement, Berry Genomics will develop targeted assays using the Vega systems for carrier, prenatal, and newborn screening programs.
How many Vega units will Berry Genomics purchase?
Berry Genomics has committed to purchasing more than 50 Vega units as part of its agreement with PacBio.
What are the benefits of the Vega system?
The Vega system offers high accuracy, fast turnaround times, and is ideal for small to medium-sized laboratories needing compact sequencing solutions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
MENLO PARK, Calif., Jan. 08, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), developer of the world’s most advanced sequencing technologies, has delivered its first Vega systems to Berry Genomics as part of an early access agreement
announced
in 2022. Under the terms of the original agreement, Berry Genomics will develop and optimize its targeted assays to support carrier, prenatal, and newborn screening programs in China and other markets.
In the next phase of the relationship, Berry Genomics will build on the platform to deliver a solution designed for the characteristics of its clinical customers and the populations they serve. The company will take the resulting instrument through the National Medical Products Administration (NMPA) regulatory review process in China and support additional product registrations in other markets. Berry has committed to purchasing more than 50 Vega units as part of its agreement with PacBio.
"The Berry Genomics team has played an important role in our work to develop Vega, providing critical feedback on the technology based on their early testing and prior use of our Sequel II instrument,” said Mark Van Oene, PacBio’s Chief Operating Officer. “We look forward to the continuation of our relationship and to leveraging their learnings in the Chinese clinical market as we look to develop an instrument for clinical use in other geographies.”
"Next-generation sequencing technology has shown great potential as a tool to help understand genetic disease and comprehensively interpret the human genome to benefit human health. Here in China, small to medium-sized laboratories need genomics equipment that doesn’t have a large footprint or price tag and can enable laboratories to process smaller sample volumes quickly. By collaborating with PacBio to bring Vega to these customers, we’re not only unlocking new potential research opportunities, but we’re also helping clinical labs offer their patients access to best-in-class genomics services,” said Dr. Aiping Mao, Vice Director of Berry Genomics R&D.
The
Vega system
is PacBio’s first benchtop long-read sequencing platform, introduced last year. Vega delivers all the functionality of the
Revio
™ system, PacBio’s high-throughput long-read sequencer, into a compact, lower-throughput benchtop platform. Offering exceptional data accuracy with
HiFi technology
and fast turnaround time, Vega is the perfect solution for laboratories looking for a compact, easy-to-use way to adopt highly accurate long-read sequencing for a variety of applications.
About PacBio
PacBio (NASDAQ: PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies stem from two highly differentiated core technologies focused on accuracy, quality and completeness which include our HiFi long-read sequencing and our SBB® short-read sequencing technologies. Our products address solutions across a broad set of research applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. For more information, please visit www.pacb.com and follow @PacBio.
PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.
About Berry Genomics
Berry Genomics was established in May 2010 and listed on the A-share main board in 2017 (stock code: 000710). The company is committed to the comprehensive transformation of genetic testing technology into clinical application, focusing on reproductive health, genetic disease testing, scientific and technological services, tumor testing and other fields, and establishing a R&D, production, marketing, sales and customer service system with international standards. With clinical needs as the core, based on independent research and development of innovative technologies, the company continues to develop products and services suitable for the characteristics of the Chinese population, and continuously upgrades and enriches the product pipeline and expands the application fields, while deepening the clinical application of next-generation sequencing, promoting the exploration of clinical transformation of long-read sequencing technology, and pressing the "going global" acceleration button with an international perspective.
Forward Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including statements relating to the uses, coverage, advantages, and benefits or expected benefits of using, PacBio products or technologies, including related to the Vega system, such as its anticipated use by Berry Genomics to support its development of targeted assays to support carrier, prenatal, and newborn screening programs, and other long-read sequencing-based solutions for patients, in China and other countries in Asia; expectations Berry Genomics will purchase more than 50 Vega units, and obtain NMPA and applicable product registrations in other countries for products it develops based on Vega; expectations PacBio will leverage learnings in the Chinese clinical market to develop an instrument for clinical use in other geographies; expectations regarding the needs of small to medium-sized laboratories in China with respect to instrument footprint, cost and sample volumes; and other future events. You should not place undue reliance on forward-looking statements because they are subject to assumptions, risks, and uncertainties and could cause actual outcomes and results to differ materially from currently anticipated results, including, challenges inherent in developing, commercializing and seeking clinically-relevant registrations and approval for a new product, the difficulty of generating discoveries across various areas of research; potential delays in product development; potential performance and quality issues; third-party claims alleging infringement of patents and proprietary rights or seeking to invalidate PacBio's patents or proprietary rights; and other risks associated with international operations. Additional factors that could materially affect actual results can be found in PacBio's most recent filings with the Securities and Exchange Commission, including PacBio's most recent reports on Forms 8-K, 10-K, and 10-Q, and include those listed under the caption "Risk Factors." These forward-looking statements are based on current expectations and speak only as of the date hereof; except as required by law, PacBio disclaims any obligation to revise or update these forward-looking statements to reflect events or circumstances in the future, even if new information becomes available.
Contacts
For investors:
Todd Friedman,
IR@pacificbiosciences.com
For media:
PR@pacificbiosciences.com
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