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Home » Business, Policy & Funding » Business News » Pacific Biosciences to Obtain $900M Investment From SoftBank Subsidiary

Pacific Biosciences to Obtain $900M Investment From SoftBank Subsidiary

Feb 10, 2021
|
staff reporter

NEW YORK – Pacific Biosciences said on Wednesday that it will receive a $900 million strategic investment from SB Management, a subsidiary of SoftBank Group of Japan, through the sale of convertible senior notes.

PacBio plans to use the funding to support unspecified future growth initiatives. "[T]his financing will enable us to continue to expand our product portfolio and advance our commercial expansion as we seek to transform the field of genomics," said PacBio CEO and President Christian Henry in a statement.

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