Pacific Biosciences Receives $50M Strategic Investment in Series F Round

Pacific Biosciences, a Menlo Park, CA-based private sequencing company, has received a $50m strategic investment from Gen-Probe Incorporated (Nasdaq: GPRO).
The investment is part of a larger Series F private round raised by the company, whose SMRT DNA sequencing is expected to enable the observation of natural DNA synthesis by a DNA polymerase as it occurs.
The approach is based on eavesdropping on a single DNA polymerase molecule working in a continuous, processive manner.
The two companies will also work together to explore co-development of new integrated clinical diagnostics systems based on Pacific Biosciences’ Single Molecule Real Time (SMRT(TM)) platform and Gen-Probe’s expertise in diagnostics.
They will initially collaborate on an exclusive basis for up to 30 months, with the goal of developing a longer-term, preferred business relationship aimed toward improving the diagnosis of human diseases. The companies can also purchase certain of each others’ products on preferential terms.

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