Pacific Biosciences of California Inc is a company that develops gene sequencing technologies. The company announced that SoftBank Group Corp will invest $900 million. The Reuters report on the deal was written by Dania Nadeem and edited by Shinjini Ganguli. The article describes the transaction as SoftBank's latest healthcare investment. The piece does not disclose any operating metrics, valuation, deal terms, or other financial details. Pacific Biosciences develops SMRT (Single Molecule Real Time) DNA sequencing that monitors natural DNA synthesis by observing a single DNA polymerase in real time. Its approach relies on detecting a single DNA polymerase working in a continuous, processive manner. The company is working to apply the platform toward clinical diagnostics through a strategic collaboration with Gen‑Probe. That collaboration will explore co-development of integrated clinical diagnostics systems and begins with an exclusive period of up to 30 months, aiming for a longer-term preferred business relationship to improve diagnosis of human diseases. The two companies may also buy certain products from each other on preferential terms. Financially, Pacific Biosciences received a $50M strategic investment from Gen‑Probe as part of a larger Series F private round and had previously received more than $1.9M in NIH grants in September 2009. Pacific Biosciences develops a technology platform for real-time detection of biological events at single-molecule resolution, including its single molecule real time (SMRT) DNA sequencing technology. The company received grants totaling more than $1.9 million from the National Institutes of Health through the National Human Genome Research Institute. $1,190,022 was awarded over two years to support development of a direct DNA methylation detection method. An additional $714,406 was provided toward an existing NIH grant to support continued development and performance enhancements of SMRT sequencing. The funds are part of the American Recovery & Reinvestment Act of 2009 Research and Research Infrastructure “Grand Opportunities” grants program. NHGRI indicated the awards will stimulate research ranging from understanding genome function to improvements in prevention, diagnosis and treatment of human illness. Pacific Biosciences is a Menlo Park, Calif., company working to advance DNA sequencing technology and develop a real-time sequencing system. The company plans to use $68 million in new financing to prepare that system for commercial launch in 2010. Over the last year Pacific has raised a total of $188 million. Management says the technology could enable faster, in-office sequencing that shifts care toward preventive and personalized medicine and is focusing on how inheritance and environmental factors affect genetic health. The company faces competition from lower-cost entrants and other genomics firms—examples cited include Helicos, Illumina, 23andMe and Navigenics—which heightens pressure to produce innovation beyond current capabilities. Pacific BioSciences is developing a system that captures individual DNA molecules in tiny holes on a chip and uses enzyme-driven chemistry plus optical imaging to identify each DNA letter. The platform seeks to provide an in‑depth, base-by-base view of a person’s genome, aiming to map an individual’s entire genome in minutes and for under $1,000. The company says it expects to be ready to commercialize the technology by 2010. Pacific Bio faces competitors pursuing low-cost sequencing, including Complete Genomics and BioNanomatrix. The approach is intended to enable applications such as preventive medicine, large-scale data mining for new cures, and broader medical research. The company has attracted substantial venture backing over multiple rounds, reflecting investor confidence in the technology’s potential.

Total raised

$1.2B

Funding rounds

7

Latest round

Equity

Latest activity

Feb 2021