MENLO PARK, Calif., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (Nasdaq: PACB) ("Pacific Biosciences" or "PacBio"), a leading provider of high-quality, long-read sequencing platforms, announced today that it acquired Circulomics Inc. ("Circulomics"), a Maryland-based biotechnology company focused on delivering highly differentiated sample prep products that enable genomic workflows. Scientists recognize Circulomics as a leader in extracting high quality, high molecular weight (HMW) DNA from almost any sample type. These products are commonly used for long read applications across a diverse set of markets including, human biomedical research, plant and animal sciences and microbiology.
"One of our core strategies is to improve the front end of our sequencing workflows. The Nanobind technology that Circulomics has created is already proven in the market and will accelerate our efforts to make sample extraction and library preparation easier for our customers," said Christian Henry, CEO and President at PacBio. "By adding the team to PacBio we will be able to deeply integrate their technology into our workflows which will improve our entire long-read sequencing workflow."
"High quality, long-read sequencing begins with high quality, long DNA. The talented Circulomics team will extend our capabilities in extraction and sample prep and will help us deliver a much easier path toward an end-to-end automated workflow," said Dr. Catherine Ball, Senior Vice President of Research at PacBio. "This team and their elegant technology have the potential for impact across the entire genomics workflow from front-end sample preparation to multiplex assays, library prep, and beyond."
HMW DNA ranges from 50 to 300+ kilobases in length - an ideal size for long-read sequencing with PacBio or other long-read sequencing platforms. Circulomics' Nanobind magnetic disks protect DNA from shearing to generate long reads across a broad range of sample types. Their products can be used to sequence a wide range of samples from cells, bacteria, and fungi, to plants, insects, fish, mammals, and reptiles.
"We built a company of scientists who bend over backwards to help our customers generate beautiful sequencing data. Our goal has always been to build products that enable customers to focus on science rather than stress over sample prep. Through collaborations with PacBio, we know we share the same values and obsession with customer success," said Dr. Kelvin Liu, Founder and CEO at Circulomics. "Joining PacBio is such a natural fit. We're excited to work together to push the boundaries of genomics."
All customers will continue to receive Circulomics product and support.
The financial terms of the deal were not disclosed, and the pro forma financial impact of the acquisition is not expected to be material in 2021.
For more information, please visit www.pacb.com/circulomics.
The Company will discuss the acquisition of Circulomics and its financial results, which remain largely consistent with the Company's preliminary results shared on July 20, 2021, for the fiscal second quarter on its quarterly conference call after market close today. The call will be webcast and may be accessed at the Company's website at: https://investor.pacificbiosciences.com/.
Date: August 3, 2021
Time: 4:30pm ET
Listen via Internet: https://investor.pacificbiosciences.com/
Conference ID: 6914707
These announcements are available on the Pacific Biosciences Investor Relations website at ir.pacb.com.
About Pacific BiosciencesPacific Biosciences of California, Inc. (PACB) - Get Pacific Biosciences of California, Inc. Report is empowering life scientists with highly accurate long-read sequencing. The company's innovative instruments are based on Single Molecule, Real-Time (SMRT ®) Sequencing technology, which delivers a comprehensive view of genomes, transcriptomes, and epigenomes, enabling access to the full spectrum of genetic variation in any organism. Cited in thousands of peer-reviewed publications, PacBio ® sequencing systems are in use by scientists around the world to drive discovery in human biomedical research, plant and animal sciences, and microbiology. For more information, please visit www.pacb.com and follow @PacBio.
PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.
Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995, including statements relating to intentions and strategies to improve workflows; efforts to ease sample extraction and library preparation; ability to use Circulomics products across a wide range of samples, and the use of such products in long read applications across diverse markets; ideal base pair length for use in long-read sequencing platforms, and the ability of Circulomics products to generate DNA samples having such base pair lengths; the continued customer support of Circulomics products; the expected pro forma impact of the Circulomics acquisition in 2021; and, the benefits of PacBio sequencing. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this press release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements contained in the Company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Forms 8-K, 10-K, and 10-Q. The Company disclaims any obligation to update or revise any forward-looking statements.
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