Gen-Probe (NASDAQ: [[ticker:GPRO]]), the San Diego-based maker of diagnostics, said today it has invested $50 million in Menlo Park, CA-based Pacific Biosciences, an emerging maker of high-speed gene sequencing instruments. The two companies will also collaborate, exclusively with each other for the next 30 months, on using the new sequencing technology to develop more molecular-based diagnostics. PacBio, founded in 2004, had raised a total of more than $266 million in grants and venture capital before today’s news.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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