Archive for the ‘Cornell spinoffs’ Category

Pacific Biosciences (Cornell) Announces Pricing of Initial Public Offering of Common Stock (10/26/2010)

November 1, 2010

Pacific Biosciences, a spinoff from the Cornell Nanobiotechnology Center, has developed a novel approach to studying the synthesis and regulation of DNA, RNA and proteins.

Pacific Biosciences of California, Inc. (NASDAQ: PACB), developer of single molecule, real-time (SMRT™) technology for biological analysis, announced today the pricing of its initial public offering of 12,500,000 shares of its common stock at $16.00 per share. All shares are being sold by the company. The Company is also offering its underwriters a 30-day option to purchase up to 1,875,000 shares at the initial public offering price to cover overallotments, if any. The shares are expected to begin trading on Wednesday, October 27, 2010 on the NASDAQ Global Select Market under the ticker symbol “PACB”. read more

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Pacific Biosciences (Cornell) Responds to Patent Infringement Complaint by Helicos Biosciences (9/1/2010)

September 8, 2010

Pacific Biosciences is a Cornell-based spinoff developing DNA sequencing technology.

Pacific Biosciences announced that on August 27, 2010, the Company was named as a defendant in a complaint filed by Helicos Biosciences Corporation in the United States District Court for the District of Delaware. In the complaint, Helicos alleges that the Company is infringing two patents allegedly licensed by Helicos and two patents allegedly owned by Helicos, by making, using, and selling its SMRT™ technology for single molecule sequencing of DNA and teaching customers how to use the SMRT™ technology and PacBio RS sequencing platform. While the Company cannot guarantee any particular outcome in this case, it believes that Helicos’ claims are without merit and will vigorously defend against the claims asserted in the complaint. [read more]