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Pacific Biosciences Raises $109M in Latest Financing Round

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Pacific Biosciences today said that it has raised $109 million in a Series F round of financing.

The firm did not disclose the investors in the round, other than Gen-Probe, which recently made a $50 million investment in PacBio. As a result of the investment, Gen-Probe now holds an approximately 7 percent stake in PacBio.

Gen-Probe and PacBio also are exploring co-development of new integrated diagnostic systems based on PacBio's Single Molecule Real Time platform and Gen-Probe's diagnostics expertise.

"These funds will be used to support our operations as we begin ramping production capabilities for the commercial launch of our PacBio RS system," Hugh Martin, Chairman and CEO of Menlo Park, Calif.-based Pacific Biosciences, said in a statement.

The firm's RS system is based on its Single Molecule Real Time technology and is scheduled for commercial launch for research applications later this year.

PacBio said that it has raised around $370 million since its inception.