SpliceBio vs Illumina
Side-by-side comparison of AI visibility scores, market position, and capabilities
Raised $135M Series B led by Sanofi Ventures and EQT (Jun 2025). First patient dosed in Phase 1/2 for Stargardt disease (Jan 2026). Overcomes 4.7kb AAV cargo limit.
About
SpliceBio is a gene therapy company whose protein trans-splicing platform overcomes the 4.7-kilobase cargo limit of adeno-associated viral (AAV) vectors — the primary delivery vehicle for gene therapy — unlocking treatments for large-gene diseases previously untreatable. The company raised $135 million in Series B financing co-led by Sanofi Ventures and EQT Life Sciences in June 2025, and dosed its first patient in Phase 1/2 Part B for SB-007 in Stargardt disease in January 2026.
World's dominant DNA sequencing platform with ~80% market share; ~$4.34B FY2025 revenue. Powers clinical genomics, oncology diagnostics, and population-scale sequencing.
About
Illumina was founded in 1998 in San Diego and has grown into the undisputed leader in next-generation sequencing (NGS), with approximately 80% global market share across research and clinical applications. The company's sequencing-by-synthesis (SBS) chemistry and NovaSeq, NextSeq, and MiSeq instrument platforms have become the standard infrastructure for genomic research, clinical oncology, reproductive health, and infectious disease diagnostics worldwide.\n\nIllumina's business model combines high-margin consumable sales (flow cells, reagent kits) with instrument placements, creating a razor-and-blades recurring revenue structure. Its clinical sequencing segment showed accelerating growth in 2025, with clinical consumables revenue up 20% year-over-year in Q4. The company is expanding into spatial transcriptomics and multi-omics with new instruments unveiled at AGBT 2025, broadening its addressable market.\n\nIllumina reported $4.34 billion in FY2025 revenue and guides to $4.5–$4.6 billion for FY2026, with non-GAAP operating margins of ~23%. Having divested Grail (its liquid biopsy subsidiary) following regulatory pressure, Illumina is refocused on its core sequencing franchise and positioned to benefit from continued clinical adoption of genomic medicine.
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