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Pacific Biosciences (PACB) Announces New Agreement With Novogene To Purchase Ten Sequel Systems



8/3/2017 12:00:08 PM

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MENLO PARK, Calif. and SAN DIEGO, Aug. 02, 2017 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (Nasdaq:PACB) and Novogene Corporation today announced a new agreement by Novogene to purchase 10 Sequel® Systems, giving the DNA sequencing service provider the capacity to run up to 20 Sequel Systems at a time.

Novogene, a leading provider of genomic services and solutions with cutting edge next-generation sequencing and bioinformatics expertise, is the largest user of PacBio’s Sequel Systems in the world. The service provider has ramped its use of the system dramatically since earlier in the year when it acquired acesss to the first 10 Sequel Systems through the Nanjing Yangzi State-Owned Investment Group in China.

The Sequel System, based on PacBio’s unique Single Molecule, Real-Time (SMRT®) technology, provides an unmatched depth of genetic information through exceptionally long sequencing reads, uniform coverage, and the highest consensus accuracy available today. The technology allows scientists to go beyond fragmented draft genomes and generate the most comprehensive de novo assemblies.

“The overwhelming demand for SMRT Sequencing in the few months since we began running the Sequel Systems has required us to double our capacity in a short amount of time,” said Ruiqiang Li, Ph.D., Founder and CEO of Novogene. “Some of the large projects we have planned include building a database of structural variants in 1,000 Chinese individuals as part of the Chinese precision medicine initiative. In addition, we have partnered with the Global Ant Genomics Alliance to sequence 300 different species of ants to provide a comprehensive look at genomic diversity in ant genera.”

Michael Hunkapiller, Ph.D., Chairman and CEO of PacBio added: “Novogene has very quickly become the largest user of our Sequel platform, and is now operating the largest SMRT Sequencing service center in the world. We are delighted that they have successfully ramped up their utilization of the systems so quickly, and that high demand for SMRT Sequencing services in China has led them to already increase their capacity.”

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 real-time kinetic information for epigenome characterization. Pacific Biosciences’ technology provides high accuracy, ultra-long reads, uniform coverage, and the ability to simultaneously detect epigenetic changes. PacBio® sequencing systems, including consumables and software, provide a simple, fast, end-to-end workflow for SMRT Sequencing. More information is available at www.pacb.com.

About Novogene Corporation

Novogene is a leading provider of genomic services and solutions with cutting edge NGS and bioinformatics expertise and one of the largest sequencing capacities in the world. Novogene utilizes scientific excellence, a commitment to customer service and unsurpassed data quality to help our clients realize their research goals in the rapidly evolving world of genomics. With 1,800 employees, multiple locations around the world, 49 NGS related patents, and over 250 publications in top tier journal such as Nature and Science, the company has rapidly become a world-leader in NGS services. For more information, visit https://en.novogene.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 product orders, future uses, quality or performance of, or benefits of using, products or technologies, the expected benefits of the company’s agreement with Novogene, the suitability of the company’s products for particular markets or applications 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.

Contacts for PacBio: Media: Nicole Litchfield 415.793.6468 nicole@bioscribe.com Investors: Trevin Rard 650.521.8450 ir@pacificbiosciences.com For Novogene: Joyce Peng, Ph.D. Global Marketing Director and General Manager San Diego, California +1-626-222-5584 joyce.peng@novogene.com

Read at BioSpace.com


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