Cytek® Biosciences Opens New Facility to Address Increasing Global Demand for Cutting-Edge Cell Analysis Solutions

Rhea-AI Summary

Cytek Biosciences, Inc. (CTKB) expands its manufacturing capacity with a new facility in Wuxi, China, to meet the increasing demand for cell analysis solutions worldwide. The facility enables unique vendor relationships and in-house component manufacturing, enhancing Cytek's position in the industry. Cytek's product portfolio includes innovative cell analyzers and sorters, empowering scientists with advanced technology for research in various fields like immuno-oncology and infectious diseases.

Positive

• Cytek Biosciences opens a new 50,000-square-foot facility in Wuxi, China, to boost manufacturing capacity.
• The facility allows Cytek to establish unique vendor relationships and produce its components, setting it apart from competitors.
• Cytek's product lineup, including Cytek Aurora™ and Cytek Northern Lights™ cell analyzers, offers advanced solutions for scientists in fields like immuno-oncology and infectious diseases.
• The Cytek Aurora CS system is the first paired spectral cell sorter-analyzer combo in the industry, providing high-performance cell sorting capabilities.
• CEO Wenbin Jiang emphasizes the company's commitment to expanding globally and supporting scientists in advancing their research.
• Cytek's focus on meeting the rising demand for advanced cell analysis solutions highlights its proactive approach to industry trends.

Negative

• None.

Market Research Analyst

The expansion of Cytek Biosciences with a new 50,000-square-foot facility in Wuxi, China, is a strategic development aimed at scaling up their manufacturing capacity. This is a direct response to the increasing global demand for advanced cell analysis solutions. The decision to expand in Wuxi is likely due to several factors, including lower production costs, proximity to a growing base of scientific research institutions in Asia and the potential for streamlined supply chains.

For Cytek Biosciences, this expansion could lead to improved economies of scale, which might reduce the cost per unit of production and potentially increase profit margins. Moreover, the ability to manufacture components in-house provides Cytek with greater control over its supply chain, which can lead to improved quality control and reduced dependency on external vendors.

From a market perspective, Cytek's emphasis on spectral flow cytometry and its unique product offerings, such as the Cytek Aurora CS system, position the company as an innovator in the cell analysis market. This could attract investors looking for companies with a strong competitive edge in a growing biotechnology niche.

Financial Analyst

The opening of Cytek's new facility is likely to have financial implications for the company. Investors should consider the potential for increased revenue streams as the company's production capacity grows. The initial capital expenditure for establishing the facility may impact short-term financials, but the long-term growth potential in the burgeoning field of cellular analysis could outweigh these costs.

Given the company's pioneering role in spectral flow cytometry and its comprehensive product portfolio, Cytek appears well-positioned to capitalize on the expanding market for cell analysis solutions. The integration of research and development with manufacturing at the new site might also lead to faster innovation cycles, keeping Cytek at the forefront of technological advancements in the field.

It is also important to monitor how this expansion affects Cytek's operational efficiency and whether it can maintain its quality standards while scaling up production. Any failure to do so could negatively impact the company's reputation and financial performance.

Biotechnology Industry Expert

The biotechnology sector is highly competitive and companies are constantly seeking to differentiate themselves through technological innovation and operational efficiency. Cytek's investment in a new facility reflects a commitment to maintaining its position as a leader in cell analysis solutions. The emphasis on Full Spectrum Profiling technology and the ability to transfer assays seamlessly between the Cytek Aurora CS system and the Cytek Aurora cell analyzer is a significant technological advantage that could set a new industry standard.

The expansion into Wuxi also suggests that Cytek is targeting the Asian market, which is rapidly growing due to increased investment in healthcare and biomedical research. This strategic move could open up new revenue opportunities and partnerships in the region, further enhancing Cytek's global market presence.

Overall, Cytek's expansion is a calculated step to meet the rising demand for cell analysis in various fields such as immuno-oncology and infectious diseases. This could have a substantial impact on the company's market share and influence in the biotechnology industry.

FREMONT, Calif., March 07, 2024 (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc. (Nasdaq: CTKB), a leading cell analysis solutions company, announced today that it has opened a new 50,000-square-foot facility in Wuxi, China. This strategic move increases the company's manufacturing capacity to meet the growing worldwide demand for comprehensive cell analysis solutions.

The Wuxi facility offers the advantage of fostering unique vendor relationships and further facilitates Cytek to manufacture its own components, distinguishing the company from other industry players. In addition to bolstering Cytek's manufacturing capabilities, the facility also accommodates Cytek Wuxi operations, research and development, marketing, human resources, and sales teams.

Recognized as a pioneer in spectral flow cytometry, Cytek is the creator of the first commercialized fluorescence-based flow cytometry platform to achieve 40 colors – effectively shifting the paradigm of what scientists thought was possible in flow cytometry. Cytek’s portfolio of comprehensive solutions empower scientists, allowing them to go even further with their research – all with greater ease and shorter time to insights.

Cytek’s products portfolio include the Cytek Aurora™ and Cytek Northern Lights™ cell analyzers, Cytek Aurora™ CS cell sorter, Amnis^® and Guava^® instruments, Cytek Orion™ reagent cocktail preparation system, reagents, software, and services. The Cytek Aurora CS system, in particular, is the only cell sorter on the market that offers the unique ability to combine the advantages of Full Spectrum Profiling™ (FSP™) technology with high-performance cell sorting. Since the Cytek Aurora CS system and the Cytek Aurora cell analyzer share the same FSP technology, assays can be easily transferred from one to the other without redesigning panels, reconfiguring detector systems, or sacrificing resolution. The Cytek Aurora CS and Cytek Aurora systems are the first and only paired spectral cell sorter-analyzer combo in the industry.

“The increasing application of cellular analysis in various fields, including immuno-oncology, infectious diseases and immunology, has led to a rising need for advanced cell analysis solutions – and we are taking a proactive approach to accommodate it,” said Wenbin Jiang, Ph.D., CEO of Cytek Biosciences. “Our roadmap has us continuing to expand our global footprint – and continuing to give scientists the tools and support they need to advance their research.”

Please visit www.cytekbio.com for more information.

About Cytek Biosciences, Inc.

Cytek Biosciences (Nasdaq: CTKB) is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling™ (FSP™) technology. Cytek’s novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with precision and sensitivity. Cytek’s FSP platform includes its core instruments, the Cytek Aurora™ and Northern Lights™ systems; its cell sorter, the Cytek Aurora™ CS; the flow cytometer and imaging products under the Amnis^® and Guava^® brands; Cytek Orion™ reagent cocktail preparation system, and reagents, software and services to provide a comprehensive and integrated suite of solutions for its customers. Cytek is headquartered in Fremont, California with offices and distribution channels across the globe. More information about the company and its products is available at www.cytekbio.com.

Cytek’s products are for research use only and not for use in diagnostic procedures (other than Cytek’s Northern Lights-CLC system and certain reagents, which are available for clinical use in China and the European Union).

Cytek, Full Spectrum Profiling, FSP, Cytek Aurora, Northern Lights, Cytek Orion, Amnis and Guava are trademarks of Cytek Biosciences, Inc.

In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek uses its website (www.cytekbio.com), LinkedIn page and X (formerly Twitter) account as channels of distribution of information about its company, products, planned financial and other announcements, attendance at upcoming investor and industry conferences and other matters. Such information may be deemed material information and Cytek may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Cytek’s website, LinkedIn page, and X account in addition to following its SEC filings, news releases, public conference calls and webcasts.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “might," "will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding Cytek’s business plans and market opportunities; Cytek’s ability to meet the growing worldwide demand for comprehensive cell analysis solutions; and Cytek’s plans to continue expanding its global footprint. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management. These statements also deal with future events and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as those relating to Cytek’s ability to manage the growth and complexity of its organization; Cytek’s ability to manage relationships with key customers and suppliers; Cytek’s ability to retain key employees; Cytek’s ability to continue to stay in compliance with its material contractual obligations, applicable laws and regulations; global economic and market conditions; competition; and Cytek’s dependence on certain sole and single source suppliers. You should refer to the section entitled “Risk Factors” set forth in Cytek’s most recent Quarterly Report on Form 10-Q filed with the SEC and other filings Cytek Biosciences makes with the SEC from time to time for a discussion of important factors that may cause actual results to differ materially from those expressed or implied by Cytek’s forward-looking statements. Although Cytek believes that the expectations reflected in the forward-looking statements are reasonable, it cannot provide any assurance that these expectations will prove to be correct nor can it guarantee that the future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or occur. The forward-looking statements in this press release are based on information available to Cytek as of the date hereof, and Cytek disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Cytek’s views as of any date subsequent to the date of this press release.

Media Contact:
Stephanie Olsen
Lages & Associates
(949) 453-8080
stephanie@lages.com

Investor Contact:
Paul Goodson
Head of Investor Relations
Cytek Biosciences
pgoodson@cytekbio.com

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/85b3021a-0730-4ed8-8f8a-2f48a4ba5662
https://www.globenewswire.com/NewsRoom/AttachmentNg/7dfb4b66-ea4c-47bd-a1ab-8343ad30bb60

What is the ticker symbol for Cytek Biosciences, Inc.?

The ticker symbol for Cytek Biosciences, Inc. is CTKB.

Where did Cytek Biosciences open a new facility to increase its manufacturing capacity?

Cytek Biosciences opened a new facility in Wuxi, China, to enhance its manufacturing capabilities.

What are some products in Cytek's portfolio that empower scientists in their research?

Cytek's product lineup includes Cytek Aurora™ and Cytek Northern Lights™ cell analyzers, offering advanced solutions for scientists in fields like immuno-oncology and infectious diseases.

What unique feature does the Cytek Aurora CS system offer in the industry?

The Cytek Aurora CS system is the first paired spectral cell sorter-analyzer combo in the industry, providing high-performance cell sorting capabilities.

Who is the CEO of Cytek Biosciences?

Wenbin Jiang is the CEO of Cytek Biosciences.