The company, which had raised $55.5 million in February, said its investors have agreed to contribute an additional $30 million.
There were more mergers and acquisitions in the omics space in 2018, reversing the decline experienced in 2017.
The company will continue to explore strategic alternatives with financial advisor Raymond James & Associates.
The transaction follows 10x Genomics' acquisition of Stanford University spinout Epinomics and technology development partnerships with BioLegend and Immudex.
PacBio's shares skyrocketed 76 percent in November on the news that Illumina plans to acquire the firm for $1.2 billion in cash.
The new entity will offer comprehensive genomic services for precision medicine and drug discovery for central nervous system diseases.
LGC said the acquisition will improve its position across the clinical quality control tools market and increase its proficiency testing offerings.
Users expressed concern that Illumina would have an even tighter grip on the sequencing market but are optimistic that it would spur development of PacBio's technology.
Illumina touted PacBio's accuracy, technology roadmap, and potential clinical applications as key to why the company wanted to acquire it.
After six straight months of gains, the index saw a sharp drop in October that even positive earnings news could not stave off.
New research shows that scientists need to do a better job of including a wider diversity of African genomes in their analyses, STAT says.
A new paper in Science shows that men are still winning a large majority of the most sought-after NIH grants.
Nature Research and the Estée Lauder Companies are awarding efforts to encourage girls to pursue careers in the STEM fields.
In Science this week: beneficial genetic variants inherited from archaic Neanderthal and Denisovan hominins, and more.