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Illumina rival PacBio to acquire San Diego sequencing startup Omniome for up to $800M


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Menlo Park sequencing company Pacific Biosciences announced Tuesday that it plans to buy San Diego biotech Omniome for up to $800 million.
The Bay Area firm boasts the deal will make it the only company with the tools to read both long and short stretches of DNA, allowing it to do everything from uncovering rare genetic diseases to spotting cancer earlier. That would push the firm further into competition with San Diego sequencing giant Illumina, which unsuccessfully tried to buy PacBio for $1.2 billion in 2018.
PacBio will pay Omniome $600 million up front, equally divided between cash and stock, with another $200 million if the startup’s team can bring its sequencing technology to market. The deal should close by late August or early September, according to Mark Van Oene, PacBio’s chief operating officer. ....

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