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, Ph.D., will join Element Biosciences’ leadership team as Senior Director, Applications.
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, Ph.D., 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.