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1163 days ago • Posted by William Ramstein

SoftBank to invest $900 million in gene-sequencing company PacBio

It comes on top of a roughly 6% stake in PacBio that SoftBank had already accumulated and will give the Japanese investor significant sway over the Menlo Park, Calif., company. PacBio has a market value of $7.4 billion after a dramatic jump in its shares in recent months that was sparked in part by a new joint venture with Invitae Corp., a medical-genetics company. PacBio, whose shares are up 11-fold since July, has also brought in new management, including a chief executive. - WSJ

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