Revvity to develop type 1 diabetes early detection assay with Sanofi

WALTHAM, Mass. - Revvity, Inc. (NYSE:RVTY), a healthcare diagnostics company with a market capitalization of $10.65 billion and a perfect Piotroski Score of 9 according to InvestingPro, announced Thursday a program to expand its type 1 diabetes (T1D) offering through the development of a population-scale assay for early detection, supported by Sanofi (EURONEXT:SAN and NASDAQ: SNY).

The initiative includes the development of a T1D 4-plex in vitro diagnostic (IVD) assay based on Revvity’s existing research-use 3-plex assay. The collaboration will support clinical validation and regulatory submissions for the new assay on Revvity’s GSP instrument using both capillary dried blood spot and venous specimens.

According to the press release, the GSP instrument’s high throughput capability will enable population-level screening for early-stage T1D in clinical practice. Regulatory submissions are planned for the U.S. FDA, IVDR and other major jurisdictions.

Type 1 diabetes affects over 9 million people worldwide with more than 500,000 new cases diagnosed annually, 90% without a family history. Early detection enables intervention options that may improve outcomes and prevent complications such as diabetic ketoacidosis.

"The expansion of autoantibody testing from research-use towards convenient, affordable, high-quality and high-throughput commercial platforms such as Revvity GSP may accelerate the transition to a new clinical standard of care where people with T1D are diagnosed as early as possible," said Shirley Gil Parrado, global head of autoimmune type 1 diabetes at Sanofi.

Simultaneously, Revvity and Sanofi will work to expand access to Revvity’s existing research-use product, currently offered as a lab-developed test at the CLIA and CAP accredited Revvity Omics laboratory in Pittsburgh. The companies plan to validate the assay in additional locations across Revvity’s global laboratory network.

Revvity reported 2024 revenue of more than $2.7 billion and has approximately 11,000 employees serving customers in over 160 countries. The company maintains strong financial health with a current ratio of 3.33, indicating robust liquidity. InvestingPro analysis reveals 10+ additional key metrics and insights available to subscribers, including detailed financial health scores and growth projections. For comprehensive analysis, access the Pro Research Report, part of InvestingPro’s coverage of 1,400+ top US stocks.

In other recent news, Revvity Inc. released its Living Image Synergy AI multimodal analysis software, aimed at improving data consistency and workflow efficiency for in vivo imaging researchers. This new platform centralizes analysis functions across various imaging technologies, potentially benefiting preclinical imaging research. Meanwhile, KeyBanc reiterated an Overweight rating for Revvity with a $125 price target, although it adjusted its estimates following the company’s fiscal projections. Stifel also revised its price target for Revvity to $110, maintaining a Hold rating, citing pressures from China affecting the ImmunoDx segment. Similarly, Raymond James lowered its price target to $115, highlighting reimbursement challenges in China as a factor impacting future growth. Bernstein SocGen Group echoed this sentiment, reducing its price target to $115 while noting that Revvity’s recent earnings per share of $1.18 surpassed analyst expectations. Despite these adjustments, Revvity’s reported organic growth of 3% aligned with consensus estimates. These developments reflect the company’s ongoing efforts and challenges in the current market landscape.

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