SEER - Seer: First Pick In Proteomics Portfolio

• The proteomics market size was $21 billion in 2019 and is estimated to increase to $64 billion in 2024 (growing annually at 15%), larger than the genomics market.
• The company's proteomics diagnostics technology is Proteograph, an integrated solution consisting of consumables, automation instrument and software, which was licensed from Harvard.
• The Thermo Fisher partnership is expected to significantly accelerate the company's commercialization efforts which are expected to ramp up in 2022.
• The company has a good chance at occupying 10% or more of the $64B proteomics market and could trade at an enterprise value of $20B+ (implying EV/sales = 4) in 5-10 years.

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