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Pacific Biosciences Acquires Single Molecule Sequencing Technology from LI-COR Biosciences
Date:5/27/2008

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 and CEO. "We look forward to future collaborations and see the potential for our long history in DNA sequencing and expertise in enzymes and dye development to be of tremendous value to the relationship."

About Pacific Biosciences

Pacific Biosciences is a private company based in Menlo Park, California. The company was founded in 2004 with the goal of developing a transformative SMRT (single molecule real time) DNA sequencing platform that will become the new gold standard for genetic analysis, eventually enabling sequencing of individual genomes as part of routine medical care. Pacific Biosciences' lead investors include Kleiner Perkins Caufield and Byers, MDV- Mohr Davidow Ventures, Alloy Ventures and Maverick Capital among others. The company has also received an Advanced Sequencing Technology Award grant from the NHGRI (National Human Genome Research Institute) to develop the $1,000 genome. More information is available at http://www.pacificbiosciences.com.

CONTACT:

Pacific Biosciences

Martha Trela

VP Marketing

650.521.8012

mtrela@pacificbiosciences.com

About LI-COR(R) Biosciences

LI-COR Biosciences is a leader in the design and manufacture of instrument systems for biotechnology, plant biology, and environmental research. LI-COR is a pioneer in the development of IRDye(R) infrared fluorescence labeling and detection systems for such areas as drug discovery and DNA sequencing for genomic research. The LI-COR Odyssey(R), Aerius(R) and Pearl(TM) Imager systems offer unique infrared imaging solutions for protein analysis of Westerns, micro plate-based assays, and in vivo animal imaging. The LI-COR 4300 DNA Analysis System and associated IRDye reagents are designed to achieve high accuracy results for a variety of genomic research applications.

Founded in 1971, the privately held company is based in Lincoln, Nebraska, with subsidiaries in Germany and the United Kingdom. LI-COR systems are used in more than 100 countries and are supported by a global network of distributors. Further information can be obtained at http://www.licor.com.

CONTACT:

LI-COR Biosciences

Kerry Petersen

VP Business Development and Intellectual Property

402.467.0753

kerry.petersen@licor.com


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SOURCE Pacific Biosciences
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