As stated by Hugh Martin, Chairman and CEO of Pacific Biosciences, the funds will be used to support operations as the company begins ramping production capabilities for the commercial launch of the company’s first product, PacBio RS system, a third generation sequencing system based on its Single Molecule Real Time (SMRT™) platform.
Pacific Biosciences, a Menlo Park, California-based company developing a technology platform for real-time detection of biological events at single molecule resolution, has completed a $109m Series F financing round.
The round also includes a previously announced $50m strategic investment by Gen-Probe Incorporated.
Pacific Biosciences has raised approximately $370m in capital to date. Investors include Deerfield Management, Intel Capital, Wellcome Trust, Morgan Stanley, Monsanto, T.Rowe Price, Redmile Group, Fidelity, Kleiner Perkins Caufield and Byers, Mohr Davidow Ventures, Alloy Ventures, Maverick Capital, AllianceBerstein, DAG Ventures, Teachers’ Private Capital, Blackstone Cleantech Venture Partners, and Sutter Hill Ventures.