Pacific Biosciences Acquires Single Molecule Sequencing Technology from LI-COR B...( MENLO PARK Calif. and LINCOLN Neb...)

MENLO PARK, Calif. and LINCOLN, Neb., May 27 /PRNewswire/ -- Pacific Biosciences announced today that it has acquired "sequencing by incorporation" technology from LI-COR Biosciences of Lincoln Nebraska. Sequencing by incorporation generally identifies nucleotides in a DNA sequence based upon synthesis of a complementary DNA strand. The technology acquired from LI-COR broadens Pacific Biosciences' existing intellectual property related to the SMRT(TM), single molecule real time, sequencing method. Developed by Pacific Biosciences, SMRT technology is unique in the field of DNA Sequencing and offers the ultimate combination of speed, long reads, and low costs.

Included in the acquisition is a significant portfolio of key intellectual property developed under LI-COR's single molecule sequencing program, including a number of issued US and foreign patents as well as a number of pending US applications. LI-COR retained rights to its intellectual property for the sequencing enzymes that were designed for sequencing by polymerase synthesis, and LI-COR has an active program to out-license its enzymes. The acquisition also includes ongoing opportunities to collaborate with the LI-COR scientists on its sequencing enzymes.

"LI-COR's early developments in the field of sequencing by incorporation, as well as their comprehensive intellectual property portfolio surrounding those developments, provide a unique and attractive opportunity for us to combine our resources to build a strong foundation from which to ultimately deliver on the huge advantages of single molecule real time sequencing by synthesis," commented Hugh Martin, Pacific Biosciences' Chairman and CEO. "It has truly added to our breadth and depth in the field of long read DNA sequencing."

"We are quite pleased that Pacific Biosciences has acquired our early developments in single molecule DNA sequencing and will now shepherd the technology to market," said William Biggs LI-COR's President a
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