The firm will sell more than 14 million shares of its common stock for $4.25 per share.
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.
Researchers describe a way to share data while keeping it secure, Agence France Presse reports.
In Science this week: genetic mutations typically associated with esophageal cancer are common in older, healthy individuals, and more.
India's Council of Scientific and Industrial Research has a new director-general, according to ScienceInsider.
A new study links more than a hundred genes to autism spectrum disorder, Discover's D-brief blog reports.