The firm plans to release an upgrade that will improve read lengths and throughput, with an eye toward being a player in the population sequencing market.
PacBio's revenues increased to $21.6 million, but missed analysts average estimate of $23.8 million.
The Beijing-based firm said it will use the funding for research and development, to obtain additional intellectual property, and to pursue its strategic goals.
Under the terms of the agreement, Oxford Nanopore Technologies will not sell its 2D sequencing products in the UK and in Germany for five years.
The company reported first quarter revenues of $19.4 million, missing Wall Street's estimate of $24.5 million.
Researchers validated 95 percent of structural variants called by PacBio sequencing versus 43 percent with Oxford Nanopore, while Illumina missed thousands.
The US ITC has ruled that Oxford Nanopore's products do not infringe on single-molecule sequencing-related patents held by PacBio.
The company beat the analyst estimates for its top and bottom lines in both the fourth quarter and the full year.
BGI has ordered 10 Sequel systems to meet long-read sequencing demand for bacterial, plant, and animal de novo, transcriptome, and epigenomics sequencing.
Mount Sinai researchers have developed a metagenomic method based on PacBio sequencing that uses methylation patterns to identify species and their associated plasmids.
The US Food and Drug Administration has approved Alnylam's RNAi-based therapy Onpattro, according to Stat News.
Harvard Medical School's Seth Cassel and Cigall Kadoch argue in a Baltimore Sun op-ed that the recent TAILORx trial shows the potential of genomic-based medicine.
Researchers in the UK are working on using gene drives to control malaria-carrying mosquitoes, the Telegraph reports.
In PLOS this week: genetic architecture mediating gene expression, metabolomic patterns in multiple myeloma, and more.