Pacific Biosciences adds $109M to its venture haul

One of the richest tech startups in biotech history is adding even more millions to its cache of cash as it ramps up the commercialization of its DNA sequencing services. Pacific Biosciences says it has closed a $109 million Series F, bringing its total haul to $370 million. The new money includes $50 million offered by Gen-Probe, which was unveiled just days ago. Pacific Biosciences--a 2009 Fierce 15 company--has styled itself as a classic game changer, offering accessibly priced DNA...

PacBio gets $50M investment from Gen-Probe

Pacific Biosciences--a company that's never had any trouble raising money--has received a $50 million investment from molecular diagnostics firm Gen-Probe. The funding is part of a larger Series F private round of financing. The two companies will explore development of a clinical diagnostics systems using PacBio's Single Molecule Real Time (SMRT) platform and Gen-Probe's expertise in diagnostics. PacBio's SMRT platform will be able to sequence a whole genome in five to 30...