FOR IMMEDIATE RELEASE
Fort Collins, Colorado, 01/10/2019 – The Sequencing Center, a genome sequencing provider for biological and clinical research, announced a year-over-year revenue growth of 510%. Throughout the year, The Sequencing Center doubled new client accounts, including major hospitals and pharmaceutical companies such as Children’s National Hospital, The Salk Institute, Pfizer, The NIH, The USDA, Harvard University, and Massachusetts General Hospital. The Sequencing Center also made a large expansion into providing rapid response HLA Typing for clinical research, presenting a $750M market opportunity.
“Our growth in 2018 is a testament to the quality of services we provide paired with the speed that we deliver results,” said Richard Casey, Ph.D., the CEO of The Sequencing Center. “We made significant strides in the clinical sequencing market with new services that landed high profile clinical research projects. As we continue to expand our clinical offerings and simplify access to genome sequencing, we’re excited to see further growth in 2019.”
The Sequencing Center saw project sizes double from repeat customers due to the high quality of services. Over 70% of the company’s revenue is now represented by projects with a clinical research focus, proving a garnered trust in their services to power life-changing medical discoveries. This landed them on multiple top HLA Typing vendor lists for transplant, immunology, and immuno-oncology research. By making ancillary services free, such as DNA extraction and bioinformatics, the company has grown considerably faster than the overall genetics market growth rate of 20% per year.
“Our growth is nothing short of amazing considering how young of a company we are and that we currently don’t have any outside funding,” said Ryan Casey, Head of Product and Business Development. “We’re partnering with some extraordinary clients to accelerate life-changing research. What we find most exciting is the rapid expansion of organizations using our services and how that will translate into new opportunities in 2019. We’ll be working hard to expand what we can do specifically within the clinical research and drug discovery markets.”
In the company’s business model, researchers simply submit their samples and receive data back with turnaround times measured in days instead of months, accelerating all researchers who leverage their pipelines. In one instance, a pharmaceutical client was able to get critical HLA Typing data for their clinical trial back in a few days, saving them hundreds of thousands of dollars in potential lost time.
“Our unique value proposition to the market has resonated so much that our biggest problem is keeping up with demand. This has taught us a lot about what matters to our clients and where they want us to go,” said Ryan. “This positions us really well as a leading service provider for clinical and pharmaceutical research. Part of that also means expanding our services into major research areas, such as cancer or B/T-cell immunology. We’re just at the very beginning which is extremely exciting given where this market is heading.”
About The Sequencing Center
The Sequencing Center provides academic, pharmaceutical, and clinical organizations a single facility for genome sequencing and bioinformatics. The company provides all-inclusive and transparent pricing with rapid project turnaround times. For more information on The Sequencing Center, please visit www.thesequencingcenter.com.
Richard Casey, PhD