Seer (SEER) Guggenheim Securities Inaugural Healthcare Innovation Conference summary

Company overview and technology

• Founded in 2017, launched flagship Proteograph Product Suite for broad commercial use in 2022, aiming to redefine proteomics for human health.

• Proteograph enables deep, unbiased proteomics at scale, overcoming previous limitations in plasma proteomics studies.

• Technology allows detection of millions of protein variants, providing functional context to genomics data.

• Proteograph XT Assay increases throughput 2.5x, enabling a single technician to process hundreds of samples weekly.

• Proprietary nanoparticles and automation deliver high accuracy, reproducibility, and broad applicability across species and research areas.

Market opportunity and product adoption

• Proteomics market estimated at $27 billion, with Proteograph positioned to accelerate biological discovery and create new end markets.

• Customer studies have scaled rapidly, with over 10,600 proteins observed and studies exceeding 1,000 samples.

• STAC service centers launched in the US and Germany, serving 66 organizations including 10 large pharma clients.

• Strategic instrument placement and service models lower adoption barriers for both academic and pharma customers.

• Academic pipeline is strong, but revenue currently skews 60% biopharma, 40% academic; expected to balance over time.

Strategic partnerships and commercial strategy

• Co-marketing and sales agreement with Thermo Fisher enables global sales force to quote and sell Proteograph alongside Orbitrap Astral starting early 2025.

• Thermo Fisher partnership expands reach and provides full workflow solutions for large-scale studies.

• Partnership is accretive, with Thermo Fisher handling initial sales and Seer managing ongoing consumables and support.

• STAC program and strategic placements drive data generation, publications, and customer engagement.

• Academic adoption is slower due to grant cycles, while pharma moves faster on budget and adoption.