Sequel™ System Offers Significantly
Higher Throughput, Reducing Project Costs and Timelines
Pacific Biosciences of California, Inc., (NASDAQ:PACB) a pioneer
and leader in long-read sequencing using its Single Molecule,
Real-Time (SMRT®) Technology, today announced it has launched a new
nucleic acid sequencing platform. The Sequel™ System provides
higher throughput, more scalability, a reduced footprint and lower
sequencing project costs compared to the PacBio® RS II System,
while maintaining the existing benefits of the company's SMRT
Technology. Pacific Biosciences will showcase the new product at
the American Society of Human Genetics annual meeting taking place
in Baltimore, Maryland beginning October 6, 2015.
The core of the Sequel System is the capacity of its redesigned
SMRT Cells, which contain one million zero-mode waveguides (ZMWs)
at launch, compared to 150,000 ZMWs in the PacBio RS II. Active
individual polymerases are immobilized within the ZMWs, providing
windows to observe and record DNA sequencing in real time. With
about seven times as many reads per SMRT Cell as the PacBio RS II,
customers should be able to realize lower costs and shorter
timelines for sequencing projects, with approximately half the
up-front capital investment compared to previous technology. The
Sequel System occupies a smaller footprint — less than one-third
the size and weight — compared to the PacBio RS II. Since the new
system is built on the company's established SMRT Technology, most
aspects of the sequencing workflow are unchanged.
Michael Hunkapiller, Ph.D., CEO of Pacific Biosciences,
commented: "We are extremely proud to introduce the Sequel System,
which provides access to the existing benefits of SMRT Sequencing,
including long reads, high consensus accuracy, uniform coverage,
and integrated methylation information – a set of core attributes
first pioneered with the PacBio RS. The system's lower price and
smaller footprint represent our continued commitment to leveraging
the scalability of our technology and the unique characteristics of
SMRT Sequencing. Moreover, with its lower cost of goods
(approximately a quarter of that of the PacBio RS II) we expect to
be able to achieve substantial gross margin improvement and move
more quickly toward profitability."
"We will continue to support our PacBio RS II customers, and we
expect to introduce improvements in sample prep, sequencing
chemistry, and software that will extend the performance of that
system, as we have done each year since the initial
commercialization of the PacBio RS in 2011 and PacBio RS II in
2013. We expect to make similar, substantial performance
improvements each year for the Sequel System," added Dr.
Hunkapiller. "In addition, the Sequel architecture provides the
ability to scale throughput by substantially varying the number of
ZMWs on future SMRT Cells, thereby optimizing throughput and
operating costs for specific applications."
The Sequel System is designed for projects such as rapidly and
cost-effectively generating high-quality, whole-genome de novo
assemblies. It can provide characterization of a wide variety of
genomic variation types, including those in complex regions not
accessible with short read or synthetic long-range sequencing
technologies, while simultaneously revealing epigenetic
information. The system can also be used to generate data for
full-length transcriptomes and targeted transcripts using the
company's Iso-SeqTM protocol. The Sequel System's increased
throughput should also facilitate applications of SMRT Technology
in metagenomics and targeted gene applications for which
interrogation of larger numbers of individual DNA molecules is
important.
The Sequel System has been developed as part of the company's
collaboration with F. Hoffman-La Roche Ltd (Roche) to ultimately
provide a nucleic acid sequencing system for use in human in vitro
diagnostics. Under that agreement, Roche agreed to pay Pacific
Biosciences a total of $40 million in milestone payments related to
the development of the Sequel System. The company previously
reported that it has earned $20 million to date, and now expects to
earn the remaining $20 million during the fourth quarter of
2015.
"We congratulate Pacific Biosciences on the launch of the Sequel
instrument," said Dan Zabrowski, Head of Roche Tissue Diagnostics
and Head of Roche Sequencing Unit. "This new sequencing platform
has significant advantages over existing commercial platforms, and
will be used as the basis for the Roche sequencing instrument being
developed initially for clinical research, followed later by an IVD
instrument launch. We anticipate the initial launch in the second
half of 2016."
Pacific Biosciences expects to begin limited shipments of the
Sequel System in the United States during the fourth quarter of
this year and start scaling the manufacturing process for the
Sequel Systems and the new SMRT Cells during early 2016. Shipments
outside the U.S. are expected to commence thereafter. A portion of
the initial Sequel instruments will be delivered to Roche to expand
its internal assay development program. The U.S. list price for the
Sequel System is $350,000. It is currently available for Research
Use Only.
Pacific Biosciences will host a workshop titled "Addressing
Hidden Heritability through Long Read Single Molecule, Real-Time
(SMRT) Sequencing" at the ASHG conference on Wednesday, October 7,
2015 from 1-2:30 p.m. Eastern Time at the Sheraton Inner Harbor
Hotel, Baltimore. The event will be hosted by Michael Hunkapiller
and Jonas Korlach from Pacific Biosciences, and include talks by
Richard Gibbs from Baylor College of Medicine and Richard Wilson
from Washington University in St. Louis. Those attending the
conference in Baltimore can register here. The company will also
offer LIVE streaming and access to the recording; for more
information, click here. Attendees can also visit the PacBio booth
(#907).
Conference Call Information
Management will host a conference call to discuss this
announcement tomorrow, October 1, 2015, at 11:00 a.m. Eastern Time.
Investors may listen to the call by dialing 888.366.7247, or if
outside the U.S., by dialing 707.287.9330. The call will be webcast
live and will be available for replay at Pacific Biosciences'
website at http://investor.pacificbiosciences.com/.
About Pacific Biosciences
Pacific Biosciences of California, Inc. (NASDAQ:PACB) offers
sequencing systems to help scientists resolve genetically complex
problems. Based on its novel Single Molecule, Real-Time (SMRT®)
Technology, Pacific Biosciences' products enable: de novo genome
assembly to finish genomes in order to more fully identify,
annotate and decipher genomic structures; full-length transcript
analysis to improve annotations in reference genomes, characterize
alternatively spliced isoforms in important gene families, and find
novel genes; targeted sequencing to more comprehensively
characterize genetic variations; and DNA base modification
identification to help characterize epigenetic regulation and DNA
damage. Pacific Biosciences' technology provides the industry's
highest consensus accuracy over the longest read lengths in
combination with the ability to detect real-time kinetic
information. The Sequel System, including consumables and software,
provides a simple, fast, end-to-end workflow for SMRT Sequencing.
More information is available at www.pacb.com.
Forward-Looking Statements
All statements in this press release that are not historical are
forward-looking statements, including, among other things,
statements relating to the attributes of the Sequel System; future
uses, performance and updates or improvements of the company's
products; the timeline for Pacific Biosciences' potential
development, scaling of manufacturing and delivery of products,
both in the United States and internationally, as well as for
Roche; the potential future commercialization, pricing and gross
margin of such products; the expected benefits of the company's
agreement with Roche, including the anticipated timing for Roche to
release products, future milestone achievement and other future
events. You should not place undue reliance on forward-looking
statements because they involve known and unknown risks,
uncertainties, changes in circumstances and other factors that are,
in some cases, beyond Pacific Biosciences' control and could cause
actual results to differ materially from the information expressed
or implied by forward-looking statements made in this press
release. Factors that could materially affect actual results can be
found in Pacific Biosciences' most recent filings with the
Securities and Exchange Commission, including Pacific Biosciences'
most recent reports on Forms 8-K, 10-K and 10-Q, and include those
listed under the caption "Risk Factors." Pacific Biosciences
undertakes no obligation to revise or update information in this
press release to reflect events or circumstances in the future,
even if new information becomes available.
CONTACT: For Pacific Biosciences:
Media:
Nicole Litchfield
415.793.6468
nicole@bioscribe.com
Investors:
Trevin Rard
650.521.8450
ir@pacificbiosciences.com
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