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:12/22/2014)... , Dec. 22, 2014   Synthetic ... developer of pathogen-specific therapies for serious infections ... the microbiome, today announced positive topline safety ... clinical trial of SYN-004, the Company,s investigational ... Clostridium difficile (C. difficile) infection, ...
(Date:12/22/2014)... 22, 2014  Alternative Energy & Environmental Solutions, ... signed a letter of intent to acquire BioTechPharma ... patented a nanotechnology-based development platform used to create ... rapid on-site collection and testing to identify infectious ... in an immediate, non-invasive and cost-effective manner. ...
(Date:12/22/2014)... , Dec. 22, 2014  ( www.competitivehealth.com ) ... an online medical bill review and advocacy service, has ... the FREE WellCard Savings discount health services marketplace. ... that was more than they expected to pay. As ... health care costs, WellCard Savings is pleased to offer ...
(Date:12/22/2014)... 22, 2014 ITRA Global, one of ... of commercial real estate, has further expanded its global ... Perth and Brisbane, Western Australia, reports Mylinda Vick, CCIM, ... ITRA Global / ACORPP (Australian Corporate Property and ... company providing property services to a wide range of ...
Breaking Biology Technology:Synthetic Biologics Announces Positive Topline Results from Phase 1a Trial of SYN-004 for the Prevention of C. difficile Infection 2Synthetic Biologics Announces Positive Topline Results from Phase 1a Trial of SYN-004 for the Prevention of C. difficile Infection 3Synthetic Biologics Announces Positive Topline Results from Phase 1a Trial of SYN-004 for the Prevention of C. difficile Infection 4Synthetic Biologics Announces Positive Topline Results from Phase 1a Trial of SYN-004 for the Prevention of C. difficile Infection 5ALNE Announces Intention To Acquire BioTechPharma 2WellCard Savings Announces CoPatient Medical Bill Review Service for Members 2ITRA Global Continues International Expansion in Perth and Brisbane, Australia 2
... Corporation (Nasdaq: NEOG ) has been selected to ring the ... to celebrate Neogen,s 20th anniversary of being listed on the market. ... the countless many who have made Neogen,s success possible," said James ... long way in the 20 years since our initial offering, and ...
... ... Solutions , ... Indianapolis, IN (Vocus) November 12, 2009 -- DuPont and Dow AgroSciences, a wholly ... commercial cross-licensing agreement that will enable the two companies to deliver expanded herbicide-tolerant soybean options ...
... 12 Advanced Cell Technology,s (OTCBB: ACTC) Chief Scientific ... Plenary Lecture at the ,3rd International Conference on Cell ... on November 12, 2009. The Conference will focus ... will include sessions on ,Tissue Specific Stem Cell Therapy, ...
Cached Biology Technology:Neogen to Ring NASDAQ's Closing Bell 2DuPont, Dow AgroSciences Agree to Cross License Next-Generation Soybean Herbicide Tolerant Traits 2DuPont, Dow AgroSciences Agree to Cross License Next-Generation Soybean Herbicide Tolerant Traits 3DuPont, Dow AgroSciences Agree to Cross License Next-Generation Soybean Herbicide Tolerant Traits 4Advanced Cell Technology's Chief Scientific Officer, Robert Lanza, Opening Plenary Speaker at the '3rd International Conference on Cell Therapy' 2
(Date:12/11/2014)... , Dec. 10, 2014  Data Sciences International ... has released a new series of digital telemetry ... toxicology researchers. M series, part of the PhysioTel™ ... the best possible physiologic data when incorporating functional ... functional endpoints to toxicology studies has evolved from ...
(Date:12/10/2014)... 9, 2014  Wake Forest Baptist Medical Center today announced ... School of Medicine. Funding for this $50 million capital ... will be publicly launched next summer. ... former 60 series R.J. Reynolds Tobacco Company complex, adjacent ... begin immediately with plans to be ready to welcome ...
(Date:12/10/2014)... , December 9, 2014 ... BCARD Platform   ... meeting scheduling solutions for business-to-business (B2B) events, today ... leader in mobile near-field communication (NFC), Bluetooth low ...      (Logo: http://photos.prnewswire.com/prnh/20140612/691055) , Jifflenow will ...
Breaking Biology News(10 mins):New telemetry implants expected to change how large animal toxicology studies are conducted 2Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 2Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 3Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 4Jifflenow And ITN International Bring Cutting-Edge Badge Scanning Technology To B2B Events 2Jifflenow And ITN International Bring Cutting-Edge Badge Scanning Technology To B2B Events 3
... have determined the molecular structure of a viral protein, ... virus 5 is part of a family of viruses ... to cold-like illness and is responsible for many hospitalizations ... Jan. 5 by the journal Nature. , Details of ...
... the detailed structure of an essential piece of the ... of human cancers. Understanding the physical shape of the ... it acts to immortalize cells ?and should help scientists ... lack of detailed structural information about the enzyme has ...
... from The Walter and Eliza Hall Institute, using a ... drives the formation of all breast tissue. This discovery ... tissue develops. The identification of the breast stem cell ... cancer develops and how rogue cells evade current therapies. ...
Cached Biology News:Scientists identify molecular structure of key viral protein 2Scientists identify molecular structure of key viral protein 3Scientists identify molecular structure of key viral protein 4Report lists top 20 most-vulnerable African carnivores 2Report lists top 20 most-vulnerable African carnivores 3Report lists top 20 most-vulnerable African carnivores 4Faults in newly discovered breast stem cells may lead to tumours 2
...
... of microplate readers combines reagent dispensing with ... affordable, easy-to-use platform for the complete range ... design and adaptability of the Infinite 200 ... a monochromator (M200) or filter (F200) system ...
Piperazine-N',N'-bis(2-ethanesulfonic acid), monosodium salt...
...
Biology Products: