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Pacific Biosciences said on Tuesday that it has signed a definitive agreement to acquire Omniome, a developer of short-read sequencing technology, for up to $800 million
According to the terms of the agreement, PacBio will acquire Omniome for 9.
Omniome, headquartered in San Diego, develops a highly differentiated proprietary short-read sequencing platform that can provide excellent accuracy
The integration of these complementary technologies will promote PacBio to expand its sequencing market opportunities in novel ways and provide customers with more value in a wider range of applications
Christian Henry, CEO of PacBio, said: "Adding Omniome's short-read sequencing technology to our long-read product portfolio will not only expand our overall market opportunities, but we believe it will further accelerate the adoption of SMRT sequencing because We are expected to attract more customers through deeper product offerings
"The reason why Omniome was chosen is because of its novel method.
In addition, PacBio also said that it will expand its cooperation with Invitae to develop a production-scale HiFi sequencing platform, which is expected to include technology from Omniome
Sean George, CEO and co-founder of Invitae, said: "By combining SBB sequencing with PacBio's HiFi sequencing, next-generation sequencing opportunities can be extended to patients in a clinical setting while improving accuracy and reducing costs
Richard Shen, President of Omniome, said: "We developed (SBB) this chemical method because clinical applications require accuracy that is difficult to achieve with current sequencing technologies
Once PacBio's acquisition of Omniome is completed, the expansion of PacBio's cooperation with Invitae is expected to begin in the second half of 2021