For this episode of the Geonomics Podcast I had the opportunity to interview Gilad Almogy, CEO of Ultima Genomics. Ultima has been making big waves in the NGS market by aggressively pushing down the cost curve, most recently announcing an $80 price point at AGBT. Here's what we talked about:
1. Ultima's Technology and Cost Advantages – Whether a competitor, customer, or analyst, suggest you listen to this - I doubt you'll find a deeper dive anywhere on Ultima COGS.
2. Market Impact and Elasticity – NGS prices have dropped massively in the last few years, but volume is only going up proportionally, leaving growth flat. The discussion highlights how price reductions in sequencing can drive market expansion, similar to Moore’s Law in semiconductors.
3. AI and Large-Scale Genomic Data – The conversation explores how AI-driven drug discovery and diagnostics require massive genomic datasets. Ultima is involved in large-scale projects, such as sequencing a billion cells for the Chan Zuckerberg Initiative and the UK Biobank proteome project, which could enable foundational AI models for biology.
4. Minimal Residual Disease (MRD) and Whole Genome Sequencing – We discussed how Ultima’s high-accuracy sequencing (PPM-Seq) is ideally suited to MRD applications. Gilad proposed that a new model is emerging for developing the next generation of tests: companies (e.g. Natera) that are doing high volumes of reimbursed MRD are also generating large data sets that can be used to generate next-gen tests like MCED.
5. Comparison with Roche’s Sequencing Technology – The discussion touches on Roche’s new sequencing platform, noting its advantages and limitations. Gilad highlights how Ultima benefits from advances in camera technology, allowing for continuous improvements in sequencing efficiency.
