Gen-Probe makes $50 million strategic investment in Pacific Biosciences
Gen-Probe says it has made a $50 million strategic investment in fellow USA-based Pacific Biosciences, a private sequencing company. In addition, the companies will work together to explore co-development of new integrated clinical diagnostics systems based on Pacific Biosciences' Single Molecule Real Time (SMRT) platform and Gen-Probe's expertise in diagnostics.
The two companies will initially collaborate on an exclusive basis for up to 30 months, with the goal of developing a longer-term, preferred business relationship aimed toward improving the diagnosis of human diseases. The companies can also purchase certain of each others' products on preferential terms.
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