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.
The firm missed the Wall Street estimates on the top and bottom lines, and it lowered its EPS and adjusted EPS guidance for full-year 2018.
NeoGenomics will pay $125 million in cash and distribute 1 million shares of its stock to Genoptix, a clinical oncology lab, as part of the deal.
Within diagnostics, Beckman Coulter saw core revenue growth in the low-single digits, while Cepheid was up in the double digits for the quarter.
Stephen Hahn, the nominee to lead the US Food and Drug Administration, underwent a Senate confirmation hearing yesterday, the Washington Post reports.
The US Food and Drug Administration has approved an RNA interference drug to treat acute hepatic porphyria.
Gizmodo looks over the past decade of consumer DNA testing to find the field to be lacking.
In Nature this week: native RNA sequencing and analysis of a human poly(A) transcriptome, nanopore sequencing-based method to analyze short tandem repeat expansions, and more.