Pacific Biosciences Raises $50M

Menlo Park-based Pacific Biosciences, a developer of DNA sequencing technology, has received $50M in an investment from Gen-Probe, the firms announced Thursday. According to the firm, the investment comes as part of a deal to co-develop new integrated clinical diagnostics systems based on Pacific Biosciences' Single Molecule Real Time (SMRT) platform. The firms said the collaboration is initially set for 30 months, with the goal of reaching a longer term business relationship. The firms said the $50M investment is part of a larger, Series F round of financing by Pacific Biosciences. More information »