Navigation Links
Pacific Biosciences Raises $100 Million to Fund Commercial Product Development
Date:7/14/2008

MENLO PARK, Calif., July 14 /PRNewswire/ -- Pacific Biosciences announced today that it has secured $100 million in a Series E private equity financing round. The proceeds will be used to fund the commercial development of the company's innovative single-molecule, real-time (SMRT(TM)) DNA sequencing platform.

The transaction was co-led by Deerfield Capital Management and Intel Capital, Intel Corporation's global investment organization. Other new investors included: Morgan Stanley, Redmile Group, T. Rowe Price, and a large financial institution. All previous investors participated in the financing, including: Mohr Davidow Ventures, Kleiner Perkins Caufield and Byers, Alloy Ventures, Maverick Capital, AllianceBernstein, DAG Ventures, and Teachers' Private Capital.

"With the backdrop of a difficult market, we believe that this substantial investment by our current and new investors validates the promise of our SMRT(TM) technology to change the field of DNA sequencing and spark a true revolution in medical care," said Hugh Martin, chairman and chief executive officer of Pacific Biosciences. "These funds from a combination of key institutional investors as well as Intel, a world class provider of semiconductor technology, will enable us to surge forward with an aggressive development program and stay on track to commercialize our technology in 2010."

Pacific Bioscience's SMRT(TM) technology enables, for the first time, the observation of natural DNA synthesis by a DNA polymerase as it occurs. The technology is distinguished by its long reads, fast run times, and high quality sequence data with less effort and cost compared to other available sequencing technologies. The company believes these advances will lead to a transformation in the field of DNA sequencing that will enable sequencing of individual genomes as part of routine medical care.

About Pacific Biosciences

Pacific Biosciences is a private company based in Menlo Park,
'/>"/>

SOURCE Pacific Biosciences
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2

Related biology technology :

1. PacificGMP to Merge With Pacific Biopharma Group and Create Innovative US-Compliant cGMP Contract Biomanufacturing Facility in China
2. Pacific Biosciences Acquires Single Molecule Sequencing Technology from LI-COR Biosciences
3. Aton Pharma Announces Distribution Partnership in the Asia Pacific Region
4. BioMed Realty Trust Announces 140,000 Square Foot Lease With DayStar Technologies at Pacific Research Center
5. PacifiCare Capitulates to Latest Patient Revolt
6. Neptune Technologies expands into medicinal markets in Asia Pacific
7. Lucid Expands Support Internationally: Dr. Colin Stahel appointed Director for Asia Pacific Region
8. Verenium Corporation to Present at the Pacific Growth Equities 2007 Clean Technology & Industrial Growth Conference
9. PacificGMP Announces Agreement with BD Biosciences for Cell Banking and cGMP Antibody Manufacturing
10. Ardea Biosciences Advances RDEA806 Into Phase 2a Proof-of-Concept Study for Gout
11. Sangamo BioSciences and Sigma-Aldrich Announce Research and License Agreement With Roche for the Use of ZFN Technology for Generation of Transgenic Animals
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/28/2014)... August 28, 2014 Supplementing their ... a promotion for Eppendorf Safe Lock Centrifuge ... purchase the highest quality tubes at an affordable ... for customers doing chemical, medical, pharmaceutical, and life ... are not regularly able to afford Eppendorf products. ...
(Date:8/27/2014)... -- Rhythm, a biopharmaceutical company developing peptide therapeutics that ... metabolic disorders, announced today that it has filed a ... and Exchange Commission (SEC) relating to the proposed initial ... number of shares to be offered and the price ... Citigroup and Cowen and Company will act ...
(Date:8/27/2014)... is how plants survive impact by the huge ... while using this energy for photosynthesis. The hypothesis ... blades quickly dissipate the energy throughout the entire ... DTU Physics have now managed to successfully ,film, ... contain light-absorbing proteins which play a role in ...
(Date:8/27/2014)... 2014  Lisa Kulik saw fireworks for the first ... thanks to a groundbreaking retinal implant co-invented by ... at the University of Southern California (USC) Eye Institute. ... Ariz. resident who has retinitis pigmentosa, a ... On June 2, she became the first person west ...
Breaking Biology Technology:Eppendorf Safe Lock Centrifuge Tube Promotion Now Available at Major Pipette Distributor Pipette.com 2Eppendorf Safe Lock Centrifuge Tube Promotion Now Available at Major Pipette Distributor Pipette.com 3Rhythm Files Registration Statement for Proposed Initial Public Offering 2DTU researchers film protein quake for the first time 2USC Eye Institute ophthalmologists implant first FDA-approved Argus II retinal prosthesis in western United States 2USC Eye Institute ophthalmologists implant first FDA-approved Argus II retinal prosthesis in western United States 3USC Eye Institute ophthalmologists implant first FDA-approved Argus II retinal prosthesis in western United States 4USC Eye Institute ophthalmologists implant first FDA-approved Argus II retinal prosthesis in western United States 5
... 7 Abbott (NYSE: ABT ),will present ... on Tuesday, March 18, 2008. Thomas C. Freyman, ... make a formal,presentation on the company at 8:30 ... of the presentation will be accessible through,Abbott,s Investor ...
... On Thursday, March 13, 2008,at 8:30 a.m. ... Therapeutics, Inc.,s (CTI) (Nasdaq: CTIC ; MTAX) ... discuss the company,s 2007 fourth,quarter achievements and year-end ... Thursday, March 13 8:30 a.m. Eastern/1:30 p.m. ...
... team of researchers from the departments of macromolecular science ... of Engineering and the Louis Stokes Cleveland Department of ... a new type of polymer that displays chemoresponsive mechanic ... to soft plastic and vice versa in seconds when ...
Cached Biology Technology:Researchers engineer new polymers to change their stiffness and strength when exposed to liquids 2Researchers engineer new polymers to change their stiffness and strength when exposed to liquids 3
(Date:8/27/2014)... listen carefully to someone, the first thing we do ... stop moving altogether. This strategy helps us hear better ... , This interplay between movement and hearing also has ... has long suggested that the brain,s motor cortex, which ... rise to our conscious perception of sound. , A ...
(Date:8/27/2014)... beasts. But every creature is a baby once. , ... of 24 very young dinosaurs and one older individual ... a caretaker, according to a new study by University ... Peter Dodson led the work, collaborating with researchers from ... is held. Hedrick is a doctoral student in the ...
(Date:8/27/2014)... evidence puts into doubt the long-standing belief that a ... brain plays a central role in depression. In ... that mice lacking the ability to make serotonin in ... conventional wisdom) did not show depression-like symptoms. , ... VA Medical Center and Wayne State University School of ...
Breaking Biology News(10 mins):Stop and listen: Study shows how movement affects hearing 2Stop and listen: Study shows how movement affects hearing 3Penn paleontologists describe a possible dinosaur nest and young 'babysitter' 2Penn paleontologists describe a possible dinosaur nest and young 'babysitter' 3New study throws into question long-held belief about depression 2
... States are markedly underestimating the changes needed to mitigate ... change because they work in ,silos, according to pioneering ... Manchester, discovered that the lack of communication between government ... differences over who is responsible for what. He ...
... fibrillation is a cardiac arrhythmia a chronic irregularity ... people in Germany. Although the condition is not acutely ... serious illnesses, such as cardiac insufficiency, stroke and dementia. ... studies, an international team of researchers, led by LMU ...
... as the "world,s aquarium," the marine ecosystems of the ... methods are depleting the sea,s habitats, creating areas that ... story "Threatened Gulf" . But, as Octavio ... Diego will describe during a presentation at the 2010 ...
Cached Biology News:Governments 'misjudging' scale of CO2 emissions 2When the heart gets out of step 2When the heart gets out of step 3Damage to threatened Gulf of California habitats can be reversed 2
...
...
... Solid phase reagent ... purification; Easy & unique ... Compatible with detergents and ... & recover non-envelop viruses ...
Synaptic Vesicle I Sampler Kit 10g each...
Biology Products: