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Pacific Biosciences, or PacBio, develops and manufactures advanced sequencing systems that utilize Single Molecule, Real-Time (SMRT) technology. Their platforms provide comprehensive views of genomes, transcriptomes, and epigenomes through high-fidelity (HiFi) long-read sequencing, offering detailed insights for complex genomic analyses. These systems facilitate applications such as whole-genome sequencing, targeted sequencing, and RNA sequencing, addressing the limitations of shorter-read methods.
The company was founded in 2004 by Dr. Stephen Turner, who also served as its Chief Technology Officer. The foundational insight stemmed from the potential to directly observe DNA synthesis in real-time at the single-molecule level, which Dr. Turner, with his background including a Ph.D. in Physics from Cornell University, recognized as a transformative approach to genetic analysis. This vision aimed to overcome previous technological barriers in sequencing.
PacBio's technology is adopted by researchers, clinical laboratories, and biopharmaceutical companies globally, enabling advancements in human genomics, infectious disease studies, plant and animal sciences, and oncology. The company’s overarching mission is to unlock the full promise of genomics, thereby accelerating scientific discovery and fostering a deeper understanding of biological systems to ultimately improve human health outcomes.
PacBio has raised $1.5B across 10 funding rounds.
PacBio has raised $1.5B in total across 10 funding rounds.
PacBio has raised $1.5B in total across 10 funding rounds.
PacBio's investors include SoftBank, Gen-Probe, Kleiner Perkins, National Institutes of Health, Monsanto, Sutter Hill Ventures, Deerfield Management, Intel Capital, AllianceBernstein, Alloy Ventures, DAG Ventures, Maverick Capital.
PacBio has raised $1.5B across 10 funding rounds. Most recently, it raised $900.0M Other Equity in February 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 10, 2021 | $900M Venture Round | Softbank | — | Announced |
| Jul 1, 2010 | $110M Series F | GEN Probe | Kleiner Perkins | Announced |
| Oct 8, 2009 | $1.9M Grant | National Institutes OF Health | — | Announced |
| Sep 1, 2009 | $68M Series E | — | Kleiner Perkins | Announced |
| Aug 13, 2009 | $68M Venture Round | — | Monsanto, Sutter Hill Ventures | Announced |
| Jul 14, 2008 | $100M Venture Round | Deerfield Management, Intel Capital | AllianceBernstein, Alloy Ventures, DAG Ventures, Kleiner Perkins, Maverick Capital, Mohr Davidow Ventures, Morgan Stanley, Redmile Group, Teachers' Private Capital, T. Rowe Price Associates | Announced |
| Jul 1, 2008 | $100M Series E | Deerfield Management, Intel Capital | Kleiner Perkins, AllianceBernstein, Alloy Ventures, DAG Ventures, Maverick Capital, Mohr Davidow Ventures, Morgan Stanley, Redmile Group, Teachers' Private Capital, T. Rowe Price Associates | Announced |
| Jan 15, 2007 | $50M Venture Round | — | Alloy Ventures, Kleiner Perkins, Maverick Capital, Mohr Davidow Ventures | Announced |
| Jan 1, 2007 | $50M Series D | — | Kleiner Perkins, Alloy Ventures, Maverick Capital, Mohr Davidow Ventures | Announced |
| Aug 1, 2005 | $8M Series C | — | Kleiner Perkins | Announced |
PacBio (Pacific Biosciences of California, Inc.) is a biotechnology company that develops and manufactures advanced gene sequencing systems, primarily using its proprietary Single Molecule Real-Time (SMRT) sequencing technology for highly accurate, long-read analysis of genomes, transcriptomes, and epigenomes.[1][2][4][5] It serves academic researchers, biotech firms, and clinical labs in applications like human genomics, cancer research, microbial sequencing, plant and animal genomics, gene therapy, and life sciences, addressing challenges such as amplification bias, GC bias, and incomplete variant detection that limit short-read next-generation sequencing (NGS).[2][4][5] With 2024 revenue of $154 million and about 575 employees headquartered in Menlo Park, California, PacBio shows growth through scalable platforms like Revio and Sequel, enhancements in multiplexing, and new panels for repeat expansions and carrier screening, enabling cost-effective, high-throughput solutions.[2][5]
PacBio originated from research at Cornell University combining semiconductor processing, photonics, and biotechnology in Professors Watt W. Webb and Harold Craighead's lab.[1] Founders Steve Turner, Mathieu Foquet, and Jonas Korlach—graduate students turned first employees—launched the company in 2004 as Nanofluidics, Inc., initially raising nearly $400 million in venture capital from investors like Mohr Davidow Ventures, Kleiner Perkins, Alloy Ventures, and Wellcome Trust before its 2010 IPO.[1][3] The idea emerged from innovations in zero-mode waveguides (ZMWs) for real-time single-molecule observation, leading to the first commercial product, PacBio RS, in 2010-2011, followed by RS II in 2013 and later Sequel and Revio systems.[1][2][3] Leadership evolved with Hugh Martin as initial CEO in 2004, Michael Hunkapiller from 2012-2020, and current CEO Christian Henry (ex-Illumina executive) since 2020.[1]
PacBio stands out in the sequencing market through these key strengths:
PacBio rides the long-read sequencing trend, becoming the gold standard for comprehensive genomics amid rising demands for precision medicine, rare disease diagnostics, and agricultural improvements.[1][4][5] Timing aligns with advances in biochemistry, optics, and nanofabrication, plus falling costs enabling broader adoption over legacy short-read tech.[2][4] Market forces like expanding gene therapy, cancer genomics, and epigenetics research favor its unbiased, modification-detecting reads, influencing the ecosystem by enabling "reference-quality" genomes and high-throughput clinical workflows that accelerate discoveries in human health and planetary sustainability.[2][4][5]
PacBio is poised to expand with Revio and Vega systems, new automation kits, and HiFi sequencing pushing into clinical diagnostics, carrier screening, and plant/animal applications at PAG 2026 and beyond.[5] Trends like AI-driven analysis, high-throughput epigenetics, and personalized medicine will amplify its momentum, potentially growing revenue through service expansions and partnerships. Its influence may evolve from research tool to essential platform in genomics revolutions, solidifying its role in unlocking the "full potential of the genome" for human health.[4]
