2026 J.P. Morgan Healthcare Conference Highlights: Illumina, Oxford Nanopore, 10x Genomics, Qiagen, and More Unveil Clinical and Multi-Omics Innovations

At this conference,Illumina introduced the latest developments in its business, including sales of the NovaSeq X product and the situation in the Chinese market.

At the conference,Illumina CEO Jacob Thaysen reported that,Illumina's Preliminary Annual Revenue Approximately $4.34 Billion, flat year-over-year, higher than Wall Street's consensus expectation of $4.28 billion.CompanyPreliminary revenue for the fourth quarter was approximately $1.16 billion, representing a 5% increase year-over-year, or 4% growth on a constant currency basis.ExceptChinese MarketExternal，IlluminaFourthQuarterly revenue increased by 7% year-over-year, with an estimated 2% growth in 2025.

Illumina's NovaSeq X instrument shipments reached 95 units in the fourth quarter of 2024.For91 units.By the end of 2025, the high-throughput sequencing data generated by NovaSeq X will account for approximatelyCompanyInstrumentGenerate80% of the data, achieving the company's goal for customers to adopt this systemExpected Goals。

Main Drivers of NovaSeq X DeploymentYesClinical Clients. Strong clinical capabilities supported the company's robust performance in consumables sales in the fourth quarter. IfNot consideredIn the Chinese market, its sales increased by 11% year-on-year, far exceeding the company's previous estimate of an annual growth rate of about 6%.

Illumina PredictsThe clinical market (currently accounting for more than 60% of the company's revenue) will drive growth in 2026.Clinical customers demand larger-scale genomic testing panels andMoreThe increasing adoption of deep sequencing technology is a key factor driving the growth of the company's clinical business. For example, in the field of rare diseases.CorrectThe Ongoing Transition from Whole Exome Sequencing to Whole Genome Sequencing。

Thaysen predicted,The ongoing application of approved and emerging NGS tests in areas such as early cancer screening and MRD, along with the growing demand for sequencing-intensive testing methods, will be the main drivers of continued market growth in the future.

ForIn the Chinese market, Thaysen stated,Although it has been currentlyLifting sanctions imposed on the company, but Illumina remains on the country's "Unreliable Entities" list. The company's ultimate goal is to be removed from the list., and inStrive for this。

ThaysenHighlighting“Billion Cell Atlas（Illumina Billion Cell Atlas）”，This is the first product launched by the newly established BioInsight business unit. The atlas will capture gene expression changes in over 1 billion single cells across more than 200 disease-related cell lines using CRISPR-based gene perturbation technology, covering diseases including immune system disorders, cancer, cardiometabolic diseases, neurological disorders, and rare genetic conditions.

Illumina Plans to Complete by the End of the YearThisThe construction of the dataset has currently completed the analysis of 150 million cells. AstraZeneca, Merck, and Eli Lilly, among othersPharmaceuticalsThe company has signed a contract to use thisAtlasDatabase, used for drug target validation, disease mechanism research, and advancedAIModel training.

Oxford NanoporeCompanyPlanDouble the production capacity of its PromethIon flow cell, and launch more sequencingInstrument Model, to meet the needs of customers in the application, transformation, and clinical markets.

Oxford Nanopore CEO Gordon Sanghera said that the company is developing improved sequencing chemistry and consumables for its high-throughput PromethION sequencer.Make the user able to run each timeIn a singleflow cellChina vs2 unitsHuman GenomeProceedSequencing. Current standardsThe process isSequence a human genome on each PromethIon flow cell. Each PromethIon flow cell contains 3000 nanopore channels.SingleTimeOperableGenerate over 150GB of data. With the improved design, the PromethIon flow cell each timeOperationWill be able to accommodate twoHumanGenome. Currently, this functionStillIn the early testing phase.

SangheraIndicates,PromethIon flow cell still has significant room for technological improvement, and the device can eventually achieve a single run.Complete 4 Full Human GenomesSequencing。UtilizeThis technology allows users to complete whole genome sequencing for just a few hundred dollars.

In addition,The company plans to launch its Q-Line seriesNew Version of the Mid-Throughput GridIon DeviceQ-Line is designed for customers in the application, transformation, and clinical markets.ClosedProduct series, these customers require validated testing methods.Currently,GridIonAlreadyObtained CE certification and UKCA (UK Conformity Assessment) certification.

Sanghera stated that it is currently in the late stage of development.GridIon Q v2 will support the latest R10 and RNA chemistry technologies., to promote its wider adoption among clinical and biomanufacturing quality control (QC) customers. Additionally, Oxford Nanopore plans to launchQ-Line Version of the High-Throughput PromethION Sequencer。

In the report,Sanghera emphasized the company's efforts in multi-omics and pointed out that nanopore sequencing technology isHelpResearchers are able to characterize epitranscriptomic modifications in transfer RNA (tRNA), which is crucial for understanding the biological process of protein synthesis. This technology marks an important step forward in drug development.

In the field of proteomics, Oxford NanoporeIn2024A roadmap has been formulated for the year.The company's protein sensing technology for peptide analysis is currently in the early testing phase.CanContinuous Testing 20-30 peptide segments, achieving peptide characterization at the single-molecule levelIn addition, Oxford Nanopore has made smooth progress in de novo protein sequencing.Is proceeding steadilyDevelopment of Amino Acid Recognition Tools.

10x Genomics is actively promoting the application of its single-cell and spatial gene expression technologies to bring them into the clinical field.At the conference,10x CEO and co-founder Serge Saxonov announced three collaboration projects focused on clinical applications and revealed that the company plans to open a CLIA-certified laboratory by early 2027.

Two of the collaborative projects are focused on the field of oncology.10x Genomics Collaborates with Dana-Farber Cancer Institute to Analyze Hundreds of Solid Tumor Samples for Discovering Characteristics Related to Treatment Response, Drug Resistance, and Disease Progression。At the same time,10xAlso collaborates with this research institute.Build an immunology oncology dataset containing approximately 20,000 samples, totaling 500 million cells.During the pilot phase, the two parties plan to collaborate with the University of Pennsylvania, Stanford University, andMSKResearchers at the cancer center generated data from approximately 3,000 samples using the Chromium Single Cell Analysis Platform and the Xenium Spatial Gene Expression Platform. These datasets willUsed to evaluate based onAIThe model,And identify the most predictive cellular and microenvironmental characteristics in preclinical studies.

In addition to cancer, 10x is also committed to providing informational support for the treatment of autoimmune diseases such as rheumatoid arthritis (RA), systemic lupus erythematosus (SLE), and giant cell arteritis (GCA). The company collaborates with Kevin Wei and other researchers from Brigham and Women’s Hospital to analyze peripheral blood samples, which will reveal associations with disease activity,ConditionImmune characteristics associated with episodes, remission, and treatment response.

Saxonov stated, "Building products that can impact human health has always been part of our vision. The current technology has matured to the point where it can be applied in clinical practice, and the demand is becoming increasingly prominent and continues to grow."Length,"This direction is of great value, and so it is for patients."

Saxonov attributed part of the company's R&D advantages toFlex Single-Cell Sequencing Technology. This technology completes the fixation process at the time of sample collection, thereby reducing batch effects and supporting multiplex detection to enhance the cost-effectiveness of large-scale studies. Some clinical scientists have already begun toUtilize10x Sequencing Technology for Patient SamplesProceedThey showed a strong interest in testing and hope to use single-cell and spatial sequencing technologies to analyze the samples.

In addition，The collaboration between Dana-Farber Cancer Institute and Brigham and Women's Hospital will also explore the application of treatment option selection, as well as generate informative and interpretable clinical reports.。Among them,Dana-Farber Cancer Institute will evaluate novel precision medicine therapies, including antibody-drug conjugates (ADCs), radioligand therapies (RLTs), bispecific antibodies, and immune checkpoint inhibitors, by analyzing samples from hundreds of patients.

Himisha Beltran, Director of Translational Medical Oncology Research at the Dana-Farber Cancer Institute, stated: "We know that cancer consists of a large number of tumor cells that are spatially organized to interact with each other and with their surrounding tumor microenvironment. Existing technologies do not always adequately reveal this characteristic. We will utilize 10xOfHigh-resolution technology integrates spatial information with mRNA features, quantifies gene expression (including the expression of therapeutic targets), and understands how spatial structure influences tumor behavior and treatment response.

By pairing gene expression profiles with known clinical outcomes,ResearcherWe hope to discover biological characteristics that can distinguish between patients who benefit from treatment and those who do not. Wei, Brigham and Women's HospitalProfessorThe team will follow up with at least 1,000 patients over four years, collecting and analyzing samples at up to 10 time points. "We know that certain characteristics are associated with disease activity, flare-ups, or treatment response, but how to actually monitor these characteristics in a real-world setting is...OneChallenge. Collaborative Research"This will help us understand where the signals appear, which may be translated into diagnostic tests, thereby providing a basis for decision-making."

Saxonov stated,Converting gene expression profiles into actionable clinical reports is no easy task, but it is a solvable one.For cancer, actionable insights may include target expression patterns, the immune microenvironment, or indicators of treatment sensitivity. 10x’s overarching strategy is to help customers build laboratory-developed tests (LDTs), and any efforts to create distributed kits will be based on customer needs.

Qiagen CEO Theirry BernardAt the conferenceIt indicates that the procurement of laboratory equipment will see a short-term recovery, while the overall market for life science tools and diagnostics will continue to improve. Qiagen recently forecastedItsRevenue will grow by 5% in 2026.IfCapital expenditure and the overall market are normalizing as expected, and the 7% growth target is "entirely achievable."

Other drivers of Qiagen's expected growth include:Integration of Automation andAInew products, as well as the company's announcements in 2024Product LineExpansion Plan。BernardRepresentationAll products have been delivered on time, to specification, and within budget.Completed the development work.For example, there isThree Instruments for Sample Preprocessing, which is expected to help Qiagen maintain its market leadership in this field. QiagenRecentlyTo the United StatesFDASubmitted the registration application for the QiaStat-Dx Blood Culture Identification Test product and simultaneously initiated the CE-IVDR certification process.。In addition, the company also plans to launchA Syndrome Test Kit for Diagnosing Complicated Urinary Tract Infections, expected to be launched in 2027。Bernard pointed out: "The kit"Capable of meeting a significant and currently unmet medical need, with no other competitors in the market offering a similar product."

Digital PCR technology is also the fastest-growing niche market in the field of PCR technology.。In the QiAcuity digital PCR product series,Qiagen also plans to2026New automated equipment and testing methods for cell and gene therapy production launched in [Year].The series of products first launched in September 2020, and by the end of 2025, the cumulative number of installations had exceeded 3,200 units. This growth rate has made the product the fastest-growing product series in the history of the life sciences and diagnostics fields.。

Bernard stated that Qiagen is developingThe Second-Generation Digital PCR System`, is expected to help convert qPCR-based gene expression detection technology into dPCR technology.`

The expected growth driven by recent M&A activities includes: approximately $40 million in revenue from the acquisition of Parse Biosciences, a developer of single-cell data analysis software, as well as synergies realized through the acquisition of Genoox and its Franklin clinical data analysis platform.

In addition,Qiagen also plans to 2026Upgrade the QuantiFeron product line: Launching the fifth-generation tuberculosis detection reagent and providing new testing technology for its automation partner Diasorin. Bernard stated that Qiagen is researchingWillAITechnology used in conjunction with QuantiFERONThe possibility, this move may bring revolutionary changes.

Twist CEO and co-founder Emily Leproust said at the conference that the company is changing its perception of the end market and creating new product categories for customers.；At the same time, it emphasized Twist's role in the growing cancer diagnostics market andAIContributions in the Field of Drug Discovery Driven。

Newly AddedThe business segments include Academia & Government, Diagnostics, Therapeutics, Industrial & Applied Markets, and Global Supply Chain Partners. The last oneBusinessThe segment covers companies such as original equipment manufacturer partners and distributors that have been selling Twist products.

LeproustSaid: "The diagnostic field is Twist's largest business segment,Secondly,Therapeutic Areas。In the fiscal year 2025 ending September 30, these two fieldsPerformanceThe year-over-year growth exceeded 25%. Meanwhile, the academic and government sectors achieved a 13% year-over-year growth in 2025. Although Twist's market presence is relatively limited, a 13% growth rate is already superior.2024Competitors in the annual financing environment.Currently, the global supply partner category includes 18 companies that resell Twist products under their own brands.Our distribution network isAchieveRevenueRapid GrowthAn excellent way to secure more orders with high profit margins.EfficientLoaded onto the chip。”

This adjustment stems from the company's announcement in November.OfInternal business segment restructuring.Twist integrates its original synthetic biology and biopharmaceutical businesses into the 'DNA Synthesis and Protein Solutions' department, developing in parallel with its NGS applications business.

Leproust pointed out that Twist is driving the full-chain development of cancer diagnosis and treatment.。"From the needle that first screens cancer through a blood test, toFinallyProvide treatment needles for personalized neoantigen therapy, all processes will be provided by Twist, and all technologies in between are also sourced from Twist.Our Company。”At the same time,Twist also provides forMRDThe tested products, with this business growing by over 200% year-on-year in the 2025 fiscal year, areCompanyThe Fastest Growing Field in NGS ApplicationsPart。

Leproust Points Out That the Reduction in Sequencing Costs Benefits Corporate Development。In the field of cancer diagnosis and treatment, reducing sequencing costs has significant advantages, effectively lowering testing expenses and thereby expanding the accessibility of testing services.She stated,CompanyFiscal Year 2025Of$25 Million Order Involves Based onAIDrug Development, a trend that will continue and be of great value to Twist。

At the meeting, Element Biosciences focused on introducing two new sequencing systems that are about to be launched.

Element CEO Molly He stated that the company plans toLaunch of the IVDR-Certified Aviti Sequencing Platform and a Benchtop Sequencing Platform in 2026(StillUnnamed）. This platform will provide genomic sequencing services for $100 and can be upgraded to multi-omics functions in the future.

AndAviti SystemIn comparison,This new desktopSequencingThe instrument will have higher processing efficiency, and productivity will increase significantly. Element will be held in February 2026.ActivitiesIntroduce the system in detail.Regarding the IVDR version of Aviti, Element is actively striving to obtain ISO 13485 certification and is developing its IVDR solution.。At the same time, the company is synchronizingStrive to obtain the United StatesFDAApproval of the Aviti System.

Molly He stated,Element Full-year revenue for 2025 is approximately USD 85 million, an increase of approximately 40% from the $60 million in 2024；Instrument installations increase by over 60% year-on-year, with more than 450 systems deployed globally throughout the year, consumablesKitYear-on-year shipment volumeGrowthMore than 1 times.

Molly He pointed out,More than 35% of the company's new instrument orders are for the Aviti24 Multi-Omics Platform, which has been particularly favored by pharmaceutical customers one year after its launch.She stated that the company plans to expand the capabilities of Aviti24, enabling it to perform multi-omics analysis on formalin-fixed, paraffin-embedded (FFPE) and fresh frozen tissue samples.

Grail announced at the conference that itsPreliminary Revenue for Full Year 2025 Increased by 17% Year-over-Year-18%, reaching 147 million-$148 million, itsTotal revenue for 2024For$125.6 million.

Grail CEO Bob RagusaRepresentation, the company's revenue mainly comes from itsMulti-Cancer Early Detection Test Product GalleriSales, as well as those provided to Grail Biopharmaceutical PartnersR&DService Sales.TheCompany PreparationSubmit Galleri to the U.S. in the first quarter of 2026FDAConduct pre-market approval.

Grail Predicts 25% Year-over-Year Revenue Growth for Galleri in the U.S. by 2025-26%, reaching 136 million-$137 million.Among themIn the fourth quarter, Galleri's revenue in the United States is expected to be $41 million.-Between $42 million, a year-on-year increase of 30%-33%. The productTotal revenue for the entire fourth quarter is expected to be 43 million.-Between $44 million, an increase of 13% compared to the fourth quarter of 2024.-Between 15%.

By 2025, the total number of Galleri commercial tests exceeds 185,000., an increase of 35% compared to 2024. Ragusa stated that this growth is mainly driven by the breadth and depth of prescriptions, with the base of prescribing physicians growing by 30% to approximately 17,000. The repeat testing rate increased by over 30%, allowing both doctors and patients to derive value from the annual testing frequency.。

Grail Predicts 22% Revenue Growth for Galleri by 2026-32% growth. Ragusa also pointed out that Grail has increased its testing capacity to 1 million tests per year, andPlan to announce the National Health Service for 140,000 people in mid-2026-GalleriTestAs well as the complete dataset of the Pathfinder 2 study involving 35,000 participants.

NateraThe company stated, itsBlood-basedMRDDetection TechnologySignateraThe strong growth will become2025Main Driver of Annual Revenue Growth, and announced2026Data forecasts for the year, R&D pipeline planning, and anticipated regulatory submission schedules.

NateraRevenue in the fourth quarter increased year-over-year39%, mainly due toSignateraBusiness growth, revenue growth across China35%。NateraChief Executive OfficerSteve ChapmanIndicates,The fourth quarter was the fastest-growing quarter for liquid biopsy testing in history.The average selling price of all its testing items (ASP) Strong, and the increase in testing volume drove performance improvement.2025Year isNateraA record year across all business areas, including women's health, organ health, and oncology.ExpectedSignateraTheASPWill be in2026Annual growth, andSignateraExpected medical insurance reimbursement will further increase in more types of cancer.ASP。

ChapmanPointed out that the company's R&D pipelineSignateraThe new version will adopt phased mutations and structural variations.TestingTechnology, This technology originated fromNatera 2025Year of AcquisitionForesightDiagnosticsThe technology obtained is expected to be applied clinically by late spring or early summer.

Adopt staged mutationTestingTechnology is acquiredMRDThe Pathway to the Most Sensitive Detection Method in China.ChapmanIndicates:“By integrating phased and structural variations, and slightly increasing the number of tracked variations, we believe we now truly possessA Truly Stunning Gold-LevelMRDTesting。”

NateraAlso developedA multimodal model that integrates longitudinalctDNAAnd clinical data, digital pathology images, and tumor sequencing data to enhanceSignatera MRDEvaluation。ChapmanIt was pointed out that this enhancement will be available on2026Launched gradually in the middle of each year.Currently, the company has generatedTheData shows that the enhanced model can outperform when used alone.ctDNAThe effect, andNateraThese data are being submitted to the American Society of Clinical Oncology.

At the same time,NateraContinue to increase investment in the field of data generation. The company will invest further.1Billion dollars for breast cancer evidence generation, and plans to2026Conduct or participate in multiple studies annually, including those in the United StatesFDAApprovedFIND-CRCTest (for early detection of colorectal cancer, expected2026Year of completion of subject recruitment) and useSignateraTestingMRDPatients with positive colorectal cancer (these patients may meet the criteriaExelixisCompany's oral kinase inhibitor Zanubrutinib for the treatment of conditions)stellar-316Test.

AboutFIND-CRCTest,ChapmanSaid,NateraThe company has the capability to develop early cancer detection technology, which is worth advancing and is of great significance to both the overall financial impact on the company and patient health.Planned for2027Mid-year in the United StatesFDASubmit Its Early Cancer Detection Solution, will becomeNateraAn important driver of future growth.

NateraZheng Wei2026Preparing for multiple new milestones in the year, including expansionMolDxExpanded coverage in more cancer types, launched in JapanSignateraProducts, as well as the continuous expansion of antigen-specific proteins (ASPs) and testing volume.MRDIt is a companyTheKey development areas, andNateraCurrently committed to penetrating as deeply as possible.MRDMarket, MakeItsTesting and products have uniqueness.

References:

1.https://www.genomeweb.com/sequencing/illumina-launches-billion-cell-ai-dataset-touts-clinical-growth-jpm

2.https://www.genomeweb.com/sequencing/jpm-oxford-nanopore-shares-plans-double-flow-cell-output-expand-menu-biopharma-market

3.https://www.genomeweb.com/cancer/10x-genomics-makes-big-push-clinical-world-trio-collaborations-planned-clia-lab

4.https://www.genomeweb.com/business-news/qiagen-offers-bullish-outlook-jp-morgan-healthcare-conference

5.https://www.genomeweb.com/business-news/twist-bioscience-unveils-new-end-market-reporting-segments-jp-morgan-healthcare

6.https://www.genomeweb.com/sequencing/element-biosciences-highlights-pair-forthcoming-sequencing-launches-jpm

7.https://www.genomeweb.com/cancer/jp-morgan-grail-projects-18-percent-growth-fy25-revenue

8.https://www.genomeweb.com/cancer/natera-touts-signatera-success-lays-out-2026-milestones-jp-morgan

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