Company: Element Biosciences
Title:Â Co-founder & Chief Executive Officer
Industry: Biotech
Hometown:Â Ningbo, China
Notable in 2023: Reduced the cost of sequencing a whole genome to $200.
Ever since launching its signature gene sequencing platform AVITI a little over one year ago, Element Biosciences has been delivering on its promise to provide lower-cost genetic analysis. It's the brainchild of co-founder Molly He, a scientific leader who previously led teams at Illumina and Pacific Biosciences where she developed protein reagents used in genome science.
In early January, Element announced it received more than 160 orders of its AVITI system and generated more than $25 million in revenue in 2023.
He's new approach to analysis uses "avidity base chemistry," which she told the San Diego Business Journal requires less reagent and improves accuracy. As a result, He claimed companies using its technology can save as much as $1.7 million over three years versus using its competitors' systems. It also allows Element to deliver whole genome sequencing for just $200. Lowering the costs can help make genomics accessible to more people around the world, which in turn can help scientists and doctors prevent and treat disease.
"When faced with uncertainty, sometimes it pays to be bold. The bold among us can see opportunities," He wrote in a company blog last year. "At Element we are strategic risk-takers who see opportunities for innovation everywhere. We are not afraid to disrupt the norm."
The process that transformed me into a better version of myself was becoming a co-founder and the CEO of Element, building a 300-person company from the ground up in a 1200-square-foot basement with no air conditioning and an idea that only existed on paper. It was through sheer grit and persistence that the company became what it is today.Molly HeCo-founder & Chief Executive Officer, Element Biosciences
He is also focused on encouraging more women to join STEM careers. She mentors young women in her company and community to be future leaders. He currently holds more than 100 patents and patent applications.
"There's a certain perception on women, especially Asian women, to be humble," He told Inside Precision Medicine. "Just bury our heads, work hard and let data speak for itself. But it doesn't always work that way. This is the lesson I learned. Society needs to do way more to encourage, to educate about unconscious bias and really to coach women in technology way more, give them more opportunities to shine, because the perception is hard to overcome."
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