PacBio is looking to increase the yield and reduce the cost of the protocol, which enables long reads and accurate sequencing.
The company is developing a single-molecule sequencing technology intended to significantly reduce the cost and improve the accuracy of sequencing.
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.
An artificial intelligence-based analysis suggests a third group of ancient hominins likely interbred with human ancestors, according to Popular Mechanics.
In Science this week: reduction in bee phylogenetic diversity, and more.
The New York Times Magazine looks into paleogenomics and how it is revising what's know about human history, but also possibly ignoring lessons learned by archaeologists.
The Economist reports on Synthorx's efforts to use expanded DNA bases they generated to develop a new cancer drug.