PacBio Completes Sale Of Select IP And Other Assets To Illumina For $48.1M In Net Cash
Benzinga Newsdesk 9 months ago
NewsAsset Sales
PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the completion of the sale of select intellectual property and other assets related to PacBio's short-read
PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the completion of the sale of select intellectual property and other assets related to PacBio's short-read DNA sequencing technology and related clustering, sequencing reagent, and detection technologies to Illumina, Inc.
PacBio received $48.1 million in net cash proceeds from the transaction. Under the terms of the agreement, Illumina assumed certain liabilities and granted a non-exclusive license certain intellectual property back to PacBio.