Connect with us

BIOTECH

Pacific Biosciences Of California (NASDAQ:PACB) Initiative Receives Additional Investment From Grandomics Biosciences

Published

on

Pacific Biosciences Of California

Pacific Biosciences of California (NASDAQ:PACB) recently announced that Beijing-based GrandOmics Biosciences Co., Ltd has consented to add five additional Sequel™ instruments to its Chinese company. PACB will receive investment from GrandOmics Biosciences Co., Ltd through NextOmics in Wuhan, its subsidiary. The investment will help the company in supporting the precision medicine initiative in China. The initiative is meant to focus on timely diagnosis of hereditary diseases.

GrandOmics has been vouching on Pacific Biosciences of California’s products

This is not the first time that PACB is receiving GrandOmics’ support. Initially, the latter had remained among the early birds of PACB’s Sequel System. These systems have been used by GrandOmics in China and the same company has also offered its services for analysis and assembly of de novo genome, based on bioinformatics expertise. GrandOmics has earlier made use of RS II system provided by PACB. The instruments talked about here, are based on PACB’s Sequencing technology, which is said to be SMRT or Single Molecule, Real-Time.

A customer that is much favoured

GrandOmics connection with PACB s an important one since it is a favoured customer of the company. Not only has it placed large orders of Sequel System with PACB, but can also assist it in satiating one of the big markets, i.e., China. PACB’s CEO, Dr. Michael W. Hunkapiller explains that GrandOmics has been among the “early users of the Sequel System.” The Chinese conglomerate’s confidence in PACB’s product says a lot about the company. Dr. Michael W. Hunkapiller believes that GrandOmics can prove to be company’s “great endorsement of SMRT technology.”

GrandOmics has been applying PACB’s Sequel Systems in a range of clinical researches there. With the help of company’s SMRT Sequencing technology, GrandOmics has participated in a number of projects, including HuaXia project for constructing the Asian genome.

Mr. Depeng Wang, the CEO of GrandOmics, says that their company is among the first ones to focus on PACB’s Sequencing technology. The company is planning to deploy six such systems in Beijing and Wuhan.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.