Aug 13 (Reuters) - Illumina ( ILMN ) said on Tuesday it

has partnered with the Broad Institute to develop new kits that

will allow large-scale gene sequencing using a novel method

based on the Nobel Prize-winning CRISPR technology.

In a separate partnership with Broad Institute and Harvard,

San Diego-based Illumina ( ILMN ) will work on research sequencing of

single cells and conduct experiments using technology from the

company's recently acquired Fluent BioSciences.

WHY IT'S IMPORTANT

Illumina's ( ILMN ) partnership with Massachusetts-based Broad

Institute - one of the most prominent names in CRISPR research -

aims to use a new method called PerturbSeq screening for scaling

up gene sequencing volume.

This could help in disease and treatment research, as well

as drive Illumina's ( ILMN ) growth.

KEY QUOTE

"PerturbSeq has already demonstrated it can significantly

advance the understanding of healthy gene networks and what goes

wrong in the context of (a) disease. We believe it will set the

scene for the next revolution in biology," said Illumina ( ILMN ) CEO

Jacob Thaysen during a presentation.

CONTEXT

The gene sequencing industry has seen significant

developments in the last decade, especially the discovery of

CRISPR, a part of DNA found in bacteria's immune system, which

is now used in genetic editing.

Illumina ( ILMN ) expects the partnerships for the new technologies

to give the company the boost it needs. It has been struggling

with the lack of revenue growth due to weakness in biotech

funding.

BY THE NUMBERS

The company expects the partnership to help it achieve a

double-digit percentage growth in its adjusted profit between

2025 and 2027, and high-single digit rise in revenue by 2027.

In 2023, the company's revenue declined 2% to $4.50 billion,

while its adjusted profit fell to 86 cents per share from $2.12.