Pacific Biosciences and Invitae Announce Intent to Expand Collaboration
July 20 2021 - 7:02AM
Pacific Biosciences of California, Inc. (Nasdaq: PACB)(“Pacific
Biosciences” or “PacBio”), a leading provider of high-quality,
long-read sequencing platforms, and Invitae Corporation (NYSE:
NVTA), a leading medical genetics company, today announced an
intent to expand their multi-year collaboration to develop a
production-scale high-throughput HiFi sequencing platform to
include the sequencing technology developed by Omniome, Inc.
The expansion of the collaboration is expected to add the short
read sequencing technology enabled by Sequencing by Binding (SBB)
chemistry upon close of PacBio’s proposed acquisition of Omniome,
and contingent upon PacBio’s and Invitae’s agreement of associated
terms. Omniome’s novel and highly differentiated sequencing
technology promises significant improvement in raw base accuracy
over traditional next generation sequencing products enabling the
potential for more precise and sensitive molecular diagnostics.
PacBio and Invitae intend to work together to leverage the improved
accuracy and sensitivity of SBB chemistry to further advance cancer
diagnostics and pathogen detection. Additionally, the parties
intend to work together to explore novel methods of integrating SBB
chemistry with PacBio’s HiFi genomes.
“We believe access to both of these technologies will accelerate
the adoption of long read sequencing techniques in clinical whole
genome applications, providing deeper insight into the genome and
lower the overall cost of analysis,” said Christian Henry, CEO and
President at PacBio. “Scientists and clinicians rely on accurate
short reads and accurate long reads to conduct their science and
answer their specific questions. We seek to deliver the most
advanced sequencing solutions and are excited that we might expand
our development collaboration with Invitae to broadly enable their
clinical NGS sequencing.”
“In partnering with the PacBio team, we are pleased with our
progress toward a new generation of innovative whole genome-based
offerings, and look forward to expanding that effort to include the
highly differentiated SBB chemistry,” said Sean George, Co-Founder,
President and Chief Executive Officer of Invitae. “By combining SBB
with PacBio’s HiFi Sequencing, the opportunity and utility of next
generation sequencing technologies can be expanded for patients in
the clinical setting with improvement in accuracy and reduction in
costs.”
The expansion of the collaboration is expected to begin in the
second half of 2021 once PacBio’s acquisition of Omniome, Inc. is
complete.
About Pacific BiosciencesPacific Biosciences of
California, Inc. (NASDAQ: PACB) 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.
About InvitaeInvitae Corporation (NYSE: NVTA)
is a leading medical genetics company whose mission is to bring
comprehensive genetic information into mainstream medicine to
improve healthcare for billions of people. Invitae’s goal is to
aggregate the world’s genetic tests into a single service with
higher quality, faster turnaround time, and lower prices. For more
information, visit the company’s website at invitae.com.
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 the intended expansion of the
collaboration between PacBio and Invitae to include Omniome’s short
read sequencing technology, including the expected timing of such
expansion; the potential for PacBio to enable Invitae’s clinical
NGS sequencing capabilities; PacBio and Invitae agreeing to
associated terms of such collaboration expansion; the potential
cost reductions, and potential increases in accuracy and
sensitivity, associated with the use of SBB technology; the
potential use of SBB technology for more precise and sensitive
molecular diagnostics, including cancer diagnostics and pathogen
detection; potential novel methods of integrating SBB chemistry
with PacBio’s HiFi genomes; expectations that access to both SBB
and HiFi sequencing technologies may accelerate adoption of long
read sequencing techniques in clinical whole genome applications;
expectations regarding the timing of the closing of PacBio’s
proposed acquisition of Omniome, and increase the rate of
identification of, potential disease-causing genetic variants in
rare disease the potential of HiFi data, the applications,
insights, and attributes of SMRT sequencing technology, 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.
Contacts
Investors:Todd Friedman+1 (650)
521-8450ir@pacificbiosciences.com
Media:Jen Carroll+1 (858)
449-8082pr@pacificbiosciences.com
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