Berkeley Lights operates a proprietary platform built with advanced automation to analyze live cells as well as application and workflow software to deliver robust single-cell data. Its platform enables users to perform rapid functional characterization of thousands of single cells in parallel while controlling the environment around each cell. It also offers a data library for every single cell which can be aggregated and analyzed by users digitally. This allows users to identify the best candidates and rapidly advance them while saving research and development (R&D) expenditures on poorly performing cells. It aims to focus mainly on antibody therapeutics, cell therapy, and synthetic biology.
In 2017, Bayer collaborated with Berkeley Lights to identify antibodies and accelerate the development of cell lines. It is also working with Amgen on antibody discovery. As of 2019, the company's customer base comprised 45 customers, including eight of the 10 big pharma companies. Berkeley Lights started trading on the Nasdaq Global Select Market in July 2020, raising USD 205 million in gross proceeds via its IPO. It recorded an 81% YoY growth in revenue to USD 56.7 million in 2019 with net losses increasing by 27.5% YoY to USD 23.3 million. The growth in revenue is attributed to the significant increase (almost double) in both the adoption of Berkeley's platform by new users (22 new customers in 2019, up from 16 in 2018) and increased workflow utilization from existing customers.
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