The transaction was co-led by Deerfield Management and Intel Capital, Intel’s global investment organization. Other new investors included – Morgan Stanley, Redmile Group, T Rowe Price, and a large financial institution.
The proceeds will be used to fund the commercial development of the company’s innovative single-molecule, real-time DNA sequencing platform.
According to the company, the SMRTtechnology enables, for the first time, the observation of natural DNA synthesis by a DNA polymerase as it occurs.
Hugh Martin, chairman and CEO of Pacific Biosciences, said: “These funds from a combination of key institutional investors as well as Intel will enable us to surge forward with an aggressive development program and stay on track to commercialize our technology in 2010.”