Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.US based Pacific Biosciences has secured $100 million in a series E private equity financing round.
Subscribe to our email newsletter
The transaction was co-led by Deerfield Management and Intel Capital, Intel’s global investment organization. Other new investors included – Morgan Stanley, Redmile Group, T Rowe Price, and a large financial institution.
The proceeds will be used to fund the commercial development of the company’s innovative single-molecule, real-time DNA sequencing platform.
According to the company, the SMRTtechnology enables, for the first time, the observation of natural DNA synthesis by a DNA polymerase as it occurs.
Hugh Martin, chairman and CEO of Pacific Biosciences, said: “These funds from a combination of key institutional investors as well as Intel will enable us to surge forward with an aggressive development program and stay on track to commercialize our technology in 2010.”