The Biosciences Market Heats Up
Pacific Biosciences of California, Inc., a Bay Area biotechnology company, yesterday announced its intention to go public with an offering of $200 million. The company develops high-tech tools to glimpse the nucleotides that comprise the very fabric of DNA–providing a foundation, the filing suggests, for “chemical and structural modifications of DNA and the processing of RNA and proteins.”
It’s a fascinating and ambitious enterprise . . . but not a unique one. Rival company Complete Genomics, Inc. filed its own IPO just over two weeks ago, adding to a growing number of players in the race to decode the genome. Indeed, the ink was barely dry on the Complete Genomics offering before the company was sued by competitor Illumina Inc., for patent infringement.