3. Ultima Genomics: $600 million (Diagnostics/Tools)
Ultima Genomics emerged from stealth mode in May 2022 with the goal of scaling affordable genomic sequencing.
The Newark, California-based company said it has already developed a new high-throughput, low-cost sequencing platform that delivers human genomes for just $100.
“DNA is nature’s storage media and the instruction set for every living organism, yet with current technologies, we can’t access that information at the scale needed to truly understand complex biology,” Ultima CEO and founder Gilad Almogy said when the company launched. “Our architecture is intended for radical scaling, and the $100 genome is merely the first example of what it can deliver. We are committed to continuously drive down the cost of genomic information until it is routinely used in every part of the healthcare system.”