DNA Sequencing Giant Illumina Will Buy Pacific Biosciences For $1.2 Billion – Exclusive CEO Interview
Sunday, November 4th, 2018We’re now all ILLUMINATED: DNA Sequencing Giant $ILMN Will Buy @PacBio For $1.2B, by @MatthewHerper
https://www.Forbes.com/sites/matthewherper/2018/11/01/dna-sequencing-giant-illumina-will-buy-pacific-biosciences-for-12-billion–exclusive-ceo-interview/ After raising $360M from VCs + $200M from an IPO
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“Pacific Biosciences was originally supposed to be an Illumina-killer. Founded in 2003 by chief technology officer, Steven Turner, who invented the firm’s basic technology with PacBio’s chief scientific officer, Jonas Korlach, PacBio emerged in 2009 boasting that it would disrupt the sequencing market, raising $360 million in venture capital and scoring a $200 million initial public offering. But its machines were too slow, expensive and unwieldy to slow down Illumina’s ascent. Shares plummeted, and even at the rich premium being offered by Illumina, shares are at half the IPO price.”
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