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NEW YORK (GenomeWeb News) – Gen-Probe disclosed in its annual 2011 earnings document that it has lost almost $41 million in its investment in Pacific Biosciences as of the end of 2011.

In 2010, Gen-Probe made a $50 million investment in the Menlo Park, Calif.-based next-generation sequencing firm in the form of preferred stock. When PacBio went public in October, 2010 that stock was converted into common stock, and as a result of a drop in PacBio's stock price, the value of Gen-Probe's investment has plummeted.

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