Pacific Biosciences Files for IPO
Among the advantages of Pacific Biosciences’ sequencing technology cited by the company are read lengths of greater than 1,000 base pairs on average and the ability to perform circular consensus sequencing for multiple reads across the same sequence. Future applications could include RNA sequencing.
Washington, DC 8/16/10—DNA sequencer developer Pacific Biosciences has filed a registration form with the SEC for an IPO to raise $200 million. The company’s SMRT (single-molecule real-time) sequencing technology provides single-molecule resolution. The company plans to introduce its PacBio RS system in early 2011 at a list price of $695,000, with an initial focus on clinical, basic research and agricultural research applications. The 369-employee company had an accumulated deficit of $255.0 million as of June 30, 2010, and an order backlog of $15 million.
